Refreshed Residential Income
For Sale
$195,000
8808 N 8TH Street 203, Phoenix, AZ 85020
Updated interior finishes and key systems support comfortable residential use in a North Mountain-area setting.
Property Size902 SF
Days on Market83
Property Features for 8808 N 8TH Street 203
General Information
Standard status
Active
Size
902 SF
Property subtype
Apartment
Site & Location
Neighborhood
North Mountain
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$506
Building Details
Building Size
902 SF
Year Built
1981
Listing Agency:
Compass
Listed By:
Shelly Lane
(602) 319-4942
Source:
Alexiabertsatos
Added: Aug 13
Changed: Oct 31
Last Checked: Nov 1 at 12:08PM
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 Compass
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Residential income property at 8808 N 8TH Street, Unit 203, built in 1981. Interior improvements include fresh neutral paint, plank-style flooring, and renovated primary and guest bathrooms. The property also features newer windows, HVAC, water heater, and washer and dryer equipment.
The residence is within the Sunnyslope High School District and near North Mountain trails. Lil Miss BBQ is within a short walk, adding a nearby dining option to the surrounding setting.
The residence is within the Sunnyslope High School District and near North Mountain trails. Lil Miss BBQ is within a short walk, adding a nearby dining option to the surrounding setting.
Key Highlights
- Updated primary and guest bathrooms
- Newer windows, HVAC, and water heater
- Plank flooring and fresh neutral interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,520
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,400
$210.4K
Cap Rate 7%
$150,286
$150.3K
Cap Rate 9%
$116,889
$116.9K
Market Conditions
NOI Build-Up for 902 SF
Gross rent
$20.3K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$19.1K $21.21/SF
− OpEx
−$8.6K −$9.54/SF
NOI
$10.5K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,400
Cap Rate 7%
$150,286
Cap Rate 9%
$116,889
Alternative Uses
Best Use
Apartment 5plus
$150.3K
$131.5K – $175.3K
NOI $10,520 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.2K
$239.1K – $318.8K
NOI $19,126 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Updated interior finishes and key systems support comfortable residential use in a North Mountain-area setting.
Where is this residential income property located?
The property is located at 8808 N 8TH Street 203 Phoenix, AZ.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Updated primary and guest bathrooms; Newer windows, HVAC, and water heater; Plank flooring and fresh neutral interior paint
