8939 N 8th St, Phoenix, AZ 85020

FULLY LEASED ON A NNN ABSOLUTE LEASE ( currently negotiating with a new tenant for a 5 year lease with a five year option as well). NEW LEASE EXTRACTION: Starting November 1st 2025 Five year Lease at $10,500 Five Year Option to Renew Lease Bumps and Absolute NNN LEASE EXTRACTION: 2-1-2025- $9,500 Insurance By Month $91.67 Property Taxes by Month $336.67 Water Sewer and Trash Paid by Tenant Maintenance paid by Tenant Rent plus NNN Expenses Lease started: October 28th, 2024 Lease End: 12 months See information under additional information for extensive information. Property Highlights (8939 N 8th St): - 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 **Financial Overview:** Cap Rate: Cap rate of over 7%, presenting a lucrative investment opportunity. Income Stability:** Long-term master lease covering 100% of expenses, ensuring predictable rental income. **Investment Potential:** These properties represent an attractive opportunity for investors seeking stable cash flow with minimal management involvement. The extensive renovations and enhancements significantly improve the property's value and marketability. Buyer Information: Buyer to verify all facts and figures.