8939 N 8TH Street Phoenix, AZ 85020
UPDATED:
12/10/2024 04:39 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Ford Tract
MLS Listing ID 6749873
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1987
Annual Tax Amount $4,040
Tax Year 2024
Lot Dimensions IRR
Property Description
LEASE EXTRACTION:
Monthly Rent: $9,000
Property Taxes: $4,040.32 Paid Monthly
Insurance: $6,200
Tenant pays ALL utilities and maintenance
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 enhancements, positioned in a competitive rental market.
See Additional Information EASE EXTRACTION:
Monthly Rent: $9,000
Property Taxes: $4,040.32 Paid Monthly
Insurance: $6,200
Tenant pays ALL utilities and maintenance
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 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.
- Vacant Property: Currently vacant to allow for diverse use options, such as a sobriety house or rental for cash flow.
Buyer Information:
- Note: Buyers must confirm all facts and figures to ensure accuracy.
Location
State AZ
County Maricopa
Community Ford Tract
Zoning R-4
Interior
Heating Individual, Heat Pump, Electric
Cooling Individual, Heat Pump, Ceiling Fan(s)
Flooring Carpet, Ceramic Tile
Appliance Other (See Remarks), F/S Oven/Range, Microwave, Washer/Dryer
Exterior
Parking Features Other (See Remarks), Paved Parking, Free, <1 Space Per Unit, Street Parking
Community Features See Remarks, Barbecue, Manager Res/Office, No Pool
Roof Type Composition,Rolled/Hot Mop
Total Parking Spaces 10
Building
Sewer Other, Public Sewer
Water City Franchise, Master Meter
New Construction No
Schools
High Schools Sunnyslope High School
School District Glendale Union High School District
Others
Senior Community No
Tax ID 160-03-012-A
Acceptable Financing No Carry, Conventional
Listing Terms No Carry, Conventional
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
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