8939 8Th St Phoenix, AZ 85020
- Commercial real estate
- 4,558 SF
Current Use by Public Records
- Park / Park & Ride
- Beautiful Boutique / Boutique
Property Details for 8939 8Th St
- Year built
- 1947
- Property size
- 4,558 SF
- Property type
- Commercial real estate
- APN
- 160-03-012-A
Description
This exceptional 8-unit apartment building in Phoenix, Arizona, presents a compelling investment opportunity. Boasting a 100% occupancy rate, the property features six one-bedroom and two two-bedroom, one-bathroom units. A recently added office/storage unit (convertible to a studio) complements the existing units. Extensive renovations completed in 2024 include updated bathrooms in all seven residential units, each costing approximately $12,000. The property also benefits from a newly installed brick patio with TV and power outlets (2019), a security gate (2015), a new brick wall for enhanced privacy, and new mailboxes (August 2024). Additional features include an on-site laundry facility and two storage units. The building sits on a 14,257 square foot lot and totals 4,558 square feet. Built in 1947, the single-story building underwent significant upgrades in 2024. The property's financial performance is strong, with a current cap rate of 7.27% and a pro-forma cap rate of 7.37%, and a pro-forma NOI of $108,701. Located in the desirable Sunnyslope neighborhood, this property offers convenient access to John C. Lincoln Hospital, North Mountain Park, and State Route 51. The asking price is $1,475,000, representing a price per unit of $184,375 and a price per square foot of $323.61. The property is zoned R-4 Multiple Family Residence and is offered fee simple. All information should be verified by the buyer.
Value Estimation
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Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.062145
- Latitude
- 33.5672007
