Sunnyslope Duplex with Fourplex
For Sale
Contact for pricing
8916 North 11th St, Phoenix, AZ 85020
Investment opportunity: duplex with approved fourplex plans in Sunnyslope.
Property Size2,049 SF
Price / SF$265.98
Days on Market982
Property Features for 8916 North 11th St
General Information
Standard status
Active
Size
2,049 SF
Class
B
Property subtype
Multifamily
Zoning
R-4
Net Operating Income
$20,357
Building Details
Year Built
1964
Buildings
1
Stories
1
Units
2
Listing Agency:
Gerchick Real Estate
Listed By:
Linda Gerchick, CCIM · License #BR1114848000
(602) 688-9279
Source:
Crexi
Added: Jan 29, 2024
Changed: Aug 8
Last Checked: Aug 25 at 4:42AM
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.
Located in the Sunnyslope neighborhood of Phoenix, this property presents a unique investment opportunity. It features a well-maintained duplex and an approved lot ready for a fourplex development. The duplex consists of two units, each individually metered for electricity, offering spacious living areas and private outdoor spaces suitable for both owner-occupants and investors. The lot is approved for constructing a fourplex, allowing for increased rental income and portfolio growth. The location provides convenient access to major highways, excellent schools, local businesses, and restaurants. A park is located across the street. The lot has approved variances for drive lane and minimum lot size that will need to be renewed. A site plan is completed. Civil drawings for grading and drainage are completed and require minor updates. Civil work for fireline and water/sewer will need to be completed. Building plans were waiting for the site plan to be completed. Mechanical and electrical plans are pending building plans. The outbuilding was demolished and removed from the property. The back lot is separate and has a separate address filed with the City: 8918 N 11th St.
Key Highlights
- Approved lot ready to build a fourplex with included reports and plans, offering immediate expansion potential.
- Existing impeccably maintained duplex provides immediate rental income or owner‑occupancy options.
- Prime location in the desirable Sunnyslope neighborhood with a park directly across the street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,837
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,740
$536.7K
Cap Rate 7%
$383,386
$383.4K
Cap Rate 9%
$298,189
$298.2K
Market Conditions
NOI Build-Up for 2,049 SF
Gross rent
$40.6K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$38.3K $18.71/SF
− OpEx
−$11.5K −$5.61/SF
NOI
$26.8K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,740
Cap Rate 7%
$383,386
Cap Rate 9%
$298,189
Alternative Uses
Best Use
Multifamily LT 5
$383.4K
$335.5K – $447.3K
NOI $26,837 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$341.4K
$298.7K – $398.3K
NOI $23,899 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$620.7K
$543.1K – $724.1K
NOI $43,446 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Investment opportunity: duplex with approved fourplex plans in Sunnyslope.
Where is this duplex located?
The property is located at 8916 North 11th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Approved lot ready to build a fourplex with included reports and plans, offering immediate expansion potential.; Existing impeccably maintained duplex provides immediate rental income or owner‑occupancy options.; Prime location in the desirable Sunnyslope neighborhood with a park directly across the street.
