8939 N 8th St Phoenix, AZ 85020
North Central NeighborhoodEstimated payment $8,569/month
Highlights
- Cooling Available
- Resident Manager or Management On Site
- Ceramic Tile Flooring
- Sunnyslope High School Rated A
- Community Barbecue Grill
- Ceiling Fan
About This Home
FULLY LEASED ON A NNN ABSOLUTE LEASE ( 3 years)
LEASE EXTRACTION:
2-1-2025- $9,000 Insurance By Month $91.67 Property Taxes by Month $336.67
Water Sewer and Trash Paid by Tenant Maintenance paid by Tenant
Schedule of Rent plus NNN Expenses
Lease started: October 28th, 2024
Lease End: 12 months w/two-one year
Lease started: October 28th, 2024
Lease End: 12 months w/two-one year extensions
Landlord is preparing to extend to a 5 year lease.
This 8 unit is contiguous to 801 E Dunlap and can purchase BOTH properties. 801 E Dunlap is also leased on a NNN lease.
Overview:
This meticulously upgraded 8-unit apartment complex offers a unique investment opportunity or a versatile property for various uses. The building features a comprehensive renovation and several high-quality finishe FULLY LEASED ON A NNN ABSOLUTE LEASE ( 3 years)
LEASE EXTRACTION:
2-1-2025- $9,000 Insurance By Month $91.67 Property Taxes by Month $336.67
Water Sewer and Trash Paid by Tenant Maintenance paid by Tenant
Schedule of Rent plus NNN Expenses
Lease started: October 28th, 2024
Lease End: 12 months w/two-one year
Lease End: 12 months w/two-one year extensions
Landlord is preparing to extend to a 5 year lease.
This 8 unit is contiguous to 801 E Dunlap and can purchase BOTH properties. 801 E Dunlap is also leased on a NNN lease.
Overview:
This meticulously upgraded 8-unit apartment complex offers a unique investment opportunity or a versatile property for various uses. The building features a comprehensive renovation and several high-quality enhancements, positioned in a competitive rental market.
Unit Mix:
- 6 Units: 1-bedroom apartments
- 2 Units:2-bedroom, 1-bath apartments
- 1 Office Unit: This is one of the units. Currently used as an office space with a remodeled bathroom. The seller is willing to convert this unit into to a one bedroom apartment if requested prior to the close of escrow.
Renovations & Upgrades:
-Apartment Upgrades (Rehabbed in 2024):
- Units 1-7: Thoughtful updates include new flooring and completely remodeled bathrooms. Apartment 1 features the most extensive renovations, including full wall and flooring replacements.
- Bathrooms:** All bathrooms have been remodeled with new flooring, plumbing, toilets, showers, tiling, and cabinets. Each renovation cost approximately $12,000 per apartment.
- Office/Storage Space (Purple Door):
- Building Addition:Added for approximately $100,000, this versatile space can be used for office purposes or additional storage.
- Exterior Enhancements:
- Brick Patio: Installed in 2019 at a cost of $15,000, featuring TV and power outlets for enhanced tenant enjoyment.
- Security Gate: Added in 2015 for $5,000, providing additional security.
- New Brick Wall: A $5,000 investment for added privacy and security between the property and 801 E Dunlap.
- **New Mailboxes and Stand:** Installed in August 2024 for $500, providing a fresh and organized mail solution.
Property Features:
- Laundry Room: Convenient on-site laundry facility.
- Storage Units: Two storage units are included with the property.
- Tenant Amenities: All units come equipped with microwaves, refrigerators, and stoves.
- Gated Property: Added security and privacy for residents.
Buyer Information:
- Note: Buyers must confirm all facts and figures to ensure accuracy.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,040
Year Built
- Built in 1987
Home Design
- Wood Frame Construction
- Composition Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Carpet
- Ceramic Tile
Parking
- 10 Open Parking Spaces
- 10 Parking Spaces
Schools
- Sunnyslope High School
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tax Lot 12 & 13
- Assessor Parcel Number 160-03-012-A
Community Details
Overview
- 3 Buildings
- 7 Units
- Building Dimensions are IRR
- Ford Tract Subdivision
Building Details
- Operating Expense $5,140
- Gross Income $113,010
- Net Operating Income $108,000
Additional Features
- Community Barbecue Grill
- Resident Manager or Management On Site
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/13/2025 03/13/25 | For Sale | $1,475,000 | 0.0% | -- |
| 03/02/2025 03/02/25 | Pending | -- | -- | -- |
| 01/24/2025 01/24/25 | For Sale | $1,475,000 | 0.0% | -- |
| 01/09/2025 01/09/25 | Pending | -- | -- | -- |
| 08/28/2024 08/28/24 | For Sale | $1,475,000 | +340.3% | -- |
| 03/05/2015 03/05/15 | Sold | $335,000 | +1.5% | $275 / Sq Ft |
| 02/06/2015 02/06/15 | Pending | -- | -- | -- |
| 01/04/2015 01/04/15 | For Sale | $330,000 | -- | $270 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6749873
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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