8939 N 8th Street, Phoenix, AZ 85020
Local realty services provided by:ERA Four Feathers Realty, L.C.
Listed by:linda s gerchick
Office:gerchick real estate
MLS#:6749873
Source:ARMLS
Price summary
- Price:$1,695,000
About this home
Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:
Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.
Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.
Lease: Absolute NNN Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.
Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.
NO SELLER CARRY- see additional information Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:
Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.
Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.
Triple NNN Lease: Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.
Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.
Property Highlights:
Location: Strategically positioned in a thriving area known for its economic stability and growth potential.
Tenant Quality: Established tenant with a strong track record in property care and financial responsibility.
Investment Appeal: Ideal for investors seeking passive income with minimal management involvement and reliable returns.
Financial Snapshot:
Lease Rate: $10,500 per month with scheduled increases, enhancing cash flow over the lease term.
Cap Rate: 8.25% - A strong return on investment with steady, growing income.
Tenant Stability: Secure income stream backed by a reputable tenant committed to property upkeep and lease obligations.
Property Details:
- Comprehensive Renovation: Extensive upgrades position this building competitively in the rental market.
- Unit Mix:
- **6 Units:** 1-bedroom apartments
- **2 Units:** 2-bedroom, 1-bath apartments
- **1 Office Unit:** Currently used as an office space, can be converted to a 1-bedroom apartment upon request.
- **Renovations & Upgrades:**
- **Apartment Upgrades (Rehabbed in 2024):** Each of the 7 units has been thoughtfully updated, with bathroom renovations costing approximately $12,000 per unit.
- **Office/Storage Space Addition:** Added for approximately $100,000, this versatile space can serve multiple purposes.
- **Exterior Enhancements:**
- Brick patio installed in 2019 ($15,000), featuring TV and power outlets.
- Security gate added in 2015 ($5,000).
- New brick wall for added privacy ($5,000).
- New mailboxes installed in August 2024 ($500).
**Property Features:**
- On-site laundry facility
- Two storage units included
- Tenant amenities such as microwaves, refrigerators, and stoves in all units
- Gated property for security and privacy
- Currently leased in a Master Lease on an Absolute NNN Lease
Buyer Information:
Buyer to verify all facts and figures.
There is NO SELLER CARRY
Contact an agent
Home facts
- Year built:1987
- Listing ID #:6749873
- Updated:September 18, 2025 at 02:48 PM
Heating and cooling
- Cooling:Ceiling Fan(s), Heat Pump, Individual Cooling
- Heating:Electric, Heat Pump, Individual Heating
Structure and exterior
- Year built:1987
Schools
- High school:Sunnyslope High School
Utilities
- Water:City Franchise, Master Meter
Finances and disclosures
- Price:$1,695,000
- Tax amount:$4,040 (2024)
New listings near 8939 N 8th Street
- New
$800,000Active3 beds 3 baths2,831 sq. ft.32819 N 23rd Avenue, Phoenix, AZ 85085
MLS# 6924473Listed by: HOME AMERICA REALTY - New
$1,199,900Active4 beds 4 baths2,303 sq. ft.928 E Berridge Lane, Phoenix, AZ 85014
MLS# 6924479Listed by: MCG REALTY - New
$895,000Active4 beds 3 baths2,051 sq. ft.3126 N 28th Street, Phoenix, AZ 85016
MLS# 6924486Listed by: REALTY EXECUTIVES ARIZONA TERRITORY - New
$369,000Active2 beds 2 baths1,214 sq. ft.1108 E Wagoner Road, Phoenix, AZ 85022
MLS# 6924534Listed by: REALTY ONE GROUP - New
$385,000Active3 beds 2 baths1,240 sq. ft.10628 N 10th Drive, Phoenix, AZ 85029
MLS# 6924404Listed by: BROKERS HUB REALTY, LLC - New
$524,900Active3 beds 2 baths1,508 sq. ft.2827 E Captain Dreyfus Avenue, Phoenix, AZ 85032
MLS# 6924409Listed by: BROKERS HUB REALTY, LLC - New
$135,000Active2 beds 1 baths801 sq. ft.16207 N 34th Way, Phoenix, AZ 85032
MLS# 6924411Listed by: REALTY ONE GROUP - New
$1,850,000Active4 beds 4 baths3,566 sq. ft.4120 E Fairmount Avenue, Phoenix, AZ 85018
MLS# 6924413Listed by: REAL BROKER - New
$425,000Active4 beds 2 baths2,054 sq. ft.2339 W Acoma Drive, Phoenix, AZ 85023
MLS# 6924419Listed by: W AND PARTNERS, LLC - New
$1,395,000Active3 beds 2 baths2,031 sq. ft.5414 N 26th Street N, Phoenix, AZ 85016
MLS# 6924420Listed by: HOMESMART
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2023 - 2025 ERA Franchise Systems LLC. All rights reserved. ERA Franchise Systems LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. ERA, ERA Real Estate powered, and their respective logos are registered service marks of ERA Franchise Systems LLC. Each office is independently owned and operated.