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
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:October 10, 2025 at 03:07 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:$1,625,000
- Tax amount:$4,040 (2024)
New listings near 8939 N 8th Street
- New
$389,900Active2 beds 2 baths1,009 sq. ft.6900 E Princess Drive #1247, Phoenix, AZ 85054
MLS# 6931715Listed by: HOMESMART - New
$675,000Active4 beds 2 baths1,911 sq. ft.3818 E Yucca Street, Phoenix, AZ 85028
MLS# 6931706Listed by: REALTY ONE GROUP - New
$445,000Active3 beds 3 baths2,064 sq. ft.3215 W Pollack Street, Phoenix, AZ 85041
MLS# 6931703Listed by: HOMESMART - New
$129,000Active3 beds 2 baths1,152 sq. ft.19602 N 32nd Street #21, Phoenix, AZ 85050
MLS# 6931685Listed by: WEST USA REALTY - New
$394,900Active4 beds 2 baths1,385 sq. ft.2329 W Bloch Road, Phoenix, AZ 85041
MLS# 6931689Listed by: RUSS LYON SOTHEBY'S INTERNATIONAL REALTY - New
$335,000Active4 beds 2 baths1,961 sq. ft.8151 W Westview Drive, Phoenix, AZ 85033
MLS# 6931667Listed by: REALTY ONE GROUP - New
$999,000Active4 beds 3 baths2,963 sq. ft.9219 N 16th Place, Phoenix, AZ 85020
MLS# 6931670Listed by: WEST USA REALTY - New
$364,000Active4 beds 2 baths1,372 sq. ft.3007 N 81st Avenue, Phoenix, AZ 85033
MLS# 6931648Listed by: HOMESMART - New
$179,000Active2 beds 2 baths1,456 sq. ft.3901 E Pinnacle Peak Road #83, Phoenix, AZ 85050
MLS# 6931651Listed by: PROAGENT REALTY - Open Sat, 10:30am to 3pmNew
$149,000Active2 beds 2 baths1,430 sq. ft.2233 E Behrend Drive #8, Phoenix, AZ 85024
MLS# 6931655Listed by: SIGNATURE PREMIER REALTY LLC
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2025 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.