8939 N 8th Street, Phoenix, AZ 85020
Local realty services provided by:Better Homes and Gardens Real Estate S.J. Fowler
Listed by: linda s gerchick
Office: gerchick real estate
MLS#:6749873
Source:ARMLS
Price summary
- Price:$1,625,000
About this home
Exceptional NNN Tenant | ACTUAL 8.03% Cap Rate
This is the kind of NNN tenant investors look for.
Not only does the tenant pay rent on time, every time, but they have recently completed new exterior paint and landscaping at their own expense—further enhancing curb appeal and long-term value—all while the property maintains an ACTUAL 8.03% cap rate. This is a true passive investment with pride of ownership from the tenant and zero landlord involvement. SEE THE ADDITIONAL Supplement Exceptional NNN Tenant | ACTUAL 8.03% Cap Rate
This is the kind of NNN tenant investors look for.
Not only does the tenant pay rent on time, every time, but they have recently completed new exterior paint and landscaping at their own expensefurther enhancing curb appeal and long-term valueall while the property maintains an ACTUAL 8.03% cap rate. This is a true passive investment with pride of ownership from the tenant and zero landlord involvement.
Discover a compelling investment opportunity with a newly signed Absolute NNN lease, offering stability, strong returns, and built-in growth potential. Situated in a high-demand location, this property delivers reliable income backed by a proven tenant.
Lease Details
5-Year Absolute NNN Lease with scheduled rent increases in years 2 through 5, providing predictable cash-flow growth
Tenant Reliability: Proven tenant known for exceptional property maintenance and consistent, on-time rent payments
Triple NNN Structure: Tenant is responsible for taxes, insurance, and all maintenanceminimizing landlord responsibilities
Renewal Options: Two additional 5-year options for long-term income security and flexibility
Financial Snapshot
Lease Rate: $10,500 per month with scheduled increases
Cap Rate: ACTUAL 8.03% - strong, stable return with upside protection
Income Security: Backed by a reputable tenant committed to property upkeep and lease obligations
Property Highlights
Location: Strategically positioned in a thriving area with solid economic fundamentals
Investment Appeal: Ideal for investors seeking true passive income with minimal management
Property Details
Comprehensive Renovation: Extensive upgrades position this asset competitively in the market
Unit Mix:
6 one-bedroom apartments
2 two-bedroom / one-bath apartments
1 office unit - currently used as office space and can be converted to a one-bedroom apartment
Renovations & Upgrades
Apartment Renovations (2024):
Each of the 7 units has been thoughtfully updated, including bathroom renovations averaging approximately $12,000 per unit
Office / Storage Addition:
Added for approximately $100,000, offering flexible use potential
Exterior Enhancements
Brick patio installed in 2019 ($15,000) with TV and power outlets
Security gate added in 2015 ($5,000)
New brick wall for privacy ($5,000)
New mailboxes installed August 2024 ($500)
NEW exterior paint and landscaping completed by the tenant at their expense
Property Features
On-site laundry facility
Two storage units
Microwaves, refrigerators, and stoves in all units
Gated property for added security and privacy
Currently leased under a Master Lease - Absolute NNN
Buyer Information
Buyer to verify all facts and figures
NO Seller Carry
Act Now
Opportunities offering an ACTUAL 8.03% cap rate, an Absolute NNN structure, and a tenant who reinvests in the property are rare.
.
Contact an agent
Home facts
- Year built:1987
- Listing ID #:6749873
- Updated:January 23, 2026 at 10:05 AM
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:$1,625,000
- Tax amount:$4,040
New listings near 8939 N 8th Street
- New
$500,000Active5 beds 2 baths3,307 sq. ft.4629 N 111th Lane, Phoenix, AZ 85037
MLS# 6973142Listed by: REALTY OF AMERICA LLC - New
$608,000Active3 beds 3 baths2,321 sq. ft.2523 E Nancy Lane, Phoenix, AZ 85042
MLS# 6973153Listed by: REALTY ONE GROUP - New
$1,689,990Active5 beds 3 baths2,774 sq. ft.5429 E Sahuaro Drive, Scottsdale, AZ 85254
MLS# 6973156Listed by: MY HOME GROUP REAL ESTATE - New
$282,000Active2 beds 2 baths1,234 sq. ft.2724 W Desert Cove Avenue, Phoenix, AZ 85029
MLS# 6973167Listed by: DPR REALTY LLC - New
$850,000Active5 beds 3 baths2,714 sq. ft.6413 N 17th Street, Phoenix, AZ 85016
MLS# 203013Listed by: HOMESMART - New
$379,999Active3 beds 2 baths1,346 sq. ft.2437 E Tamarisk Avenue, Phoenix, AZ 85040
MLS# 6973128Listed by: AIG REALTY LLC 
$689,990Pending4 beds 4 baths2,511 sq. ft.26415 N 24th Drive, Phoenix, AZ 85085
MLS# 6973089Listed by: RISEWELL HOMES
$599,990Pending3 beds 3 baths1,964 sq. ft.2441 W Maximo Way, Phoenix, AZ 85085
MLS# 6973096Listed by: RISEWELL HOMES- New
$1,150,000Active4 beds 2 baths2,999 sq. ft.5402 E Acoma Drive, Scottsdale, AZ 85254
MLS# 6973073Listed by: MY HOME GROUP REAL ESTATE - New
$595,000Active3 beds 2 baths1,808 sq. ft.301 E Muriel Drive, Phoenix, AZ 85022
MLS# 6973086Listed by: COLDWELL BANKER REALTY
© 2026 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.