Absolute NNN Apartment
8939 N 8TH Street Phoenix, AZ 85020
For Sale
$1,625,000
Pending
Small multifamily property with seven updated units, on-site laundry, and a tenant-paid, triple-net structure.
Days on Market694
Property Features for 8939 N 8TH Street
General Information
- Standard status
- Pending
- Property subtype
- Multi Family
Building Details
- Year Built
- 1987
Listing Agency:
Gerchick Real Estate
(602) 688-9279
Listed By:
Linda S Gerchick · License #BR114848000
(602) 688-9279
Source:
Exitrealty
Added: Aug 29, 2024
Changed: Jul 21
Last Checked: Jul 23 at 8:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gerchick Real Estate
Investment Insights
Based on property information with market context.
This multifamily property features a total of seven units, including six one-bedroom apartments and two-bedroom / one-bath apartments, as well as one office unit currently used as office space and convertible to a one-bedroom apartment. The property includes an on-site laundry facility, two storage units, and appliances in all units including microwaves, refrigerators, and stoves. Recent improvements include apartment renovations completed in 2024, exterior upgrades completed by the tenant, and additional site enhancements such as a security gate and brick privacy wall.
The exterior program includes new exterior paint and landscaping completed at the tenant’s expense, along with a brick patio installed in 2019 with TV and power outlets and mailboxes installed in August 2024.
The property is offered as an Absolute NNN investment and is currently leased under a Master Lease. The tenant is responsible for taxes, insurance, and all maintenance under a triple-net structure, and the lease includes a five-year term with scheduled rent increases in years 2 through 5, plus two additional five-year renewal options.
The exterior program includes new exterior paint and landscaping completed at the tenant’s expense, along with a brick patio installed in 2019 with TV and power outlets and mailboxes installed in August 2024.
The property is offered as an Absolute NNN investment and is currently leased under a Master Lease. The tenant is responsible for taxes, insurance, and all maintenance under a triple-net structure, and the lease includes a five-year term with scheduled rent increases in years 2 through 5, plus two additional five-year renewal options.
Key Highlights
- Built in 1987; small multifamily with 7 updated units plus an office/unit used as office space
- 6 one‑bedroom apartments and 2 two‑bedroom/one‑bath apartments; office unit currently used as office space
- Apartment renovations completed in 2024: each unit updated, including bathroom renovations averaging about $12,000 per unit
Property Analytics
Location Intelligence
Current Use by Public Records
Park
Parking Lot & Garage
Beautiful Boutique
Clothing & Fashion Store
FAQs
What type of property is this?
Apartment building - Small multifamily property with seven updated units, on-site laundry, and a tenant-paid, triple-net structure.
Where is this apartment building located?
The property is located at 8939 N 8TH Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Built in 1987; small multifamily with 7 updated units plus an office/unit used as office space; 6 one‑bedroom apartments and 2 two‑bedroom/one‑bath apartments; office unit currently used as office space; Apartment renovations completed in 2024: each unit updated, including bathroom renovations averaging about $12,000 per unit
