About The Property

8939 N 8th Street offers investors the opportunity to acquire a fully leased, eight-unit multifamily property operating under a five-year Absolute NNN master lease with an established tenant. The lease provides predictable income, annual rent increases and minimal landlord responsibilities. The tenant has demonstrated exceptional reliability by consistently paying rent on time, carefully maintaining the property and investing its own funds into exterior painting and landscaping. These tenant-funded improvements have further enhanced the property's curb appeal and long-term value. Financial Highlights Asking Price: $1,625,000 Actual Year 2 Cap Rate: 7.83% Year 2 Base Rent: $10,600 per month Annual Base Rent: $127,200 Annual Tax and Insurance Reimbursements: $12,577.32 Total AnnualRead MoreRead Less
Courtesy of Gerchick Real Estate 602-688-9279
Listing Snapshot
Days Online
23
Last Updated
Property Type
Multiple Dwellings
Beds
10
Year Built
1987
MLS Number
7061722
M. Logan
Top 2% performing AZ broker
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Additional Details

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Appliances & Equipment
Free-Standing Range, Disposal, Refrigerator, Microwave, Washer/Dryer
Building
Built in 1987, Construction materials: Wood Frame, Painted, Stucco, Block, 7 total units
Cooling
Ceiling Fan(s), Heat Pump, Individual
Expenses
Insurance: $4,040
Floors
Carpet, Ceramic Tile
Heating
Individual, Heat Pump, Electric
Parking
Paved, Free, >1 Space Per Unit, On Street, 10 total parkings
Property
Zoning: R-4
Roof
Composition, Foam, Rolled/Hot Mop
Security Features
Security Light(s)
Sewer
Public Sewer
Taxes
Annual amount: $4,198, Lot: 12 & 13
Utilities
Other (See Remarks), APS, Individual Meter
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30 Days Snapshot Of 85020
$503k
-6%
(avg) sold price
27
-18%
homes sold
100
-3%
(avg) days on market
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Monthly Payment
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