For Sale
$2,945,000
801 8Th St Phoenix, AZ 85020
- Added:
- Dec 11, 2024
- Days on market:
- 127
Highlights
- Fully leased 16-unit multifamily investment opportunity in Phoenix, AZ. Two 8-unit buildings located at 801 E Dunlap Ave and 8939 N 8th St. Can be purchased individually or as a portfolio.
- Master-leased to a reputable sober living company, offering a stable, low-management income stream via a Triple Net (NNN) lease; tenant pays all property expenses (taxes, insurance, maintenance).
- 801 E Dunlap Ave recently underwent over $200,000 in renovations including new bathrooms, flooring, appliances, paint, kitchen upgrades, enhanced security, and updated HVAC and water heaters.
- 8939 N 8th St features a comprehensive renovation completed in 2024, including updated bathrooms in all seven units (approx. $12,000 per unit), a new office/storage addition, and exterior enhancements. Unit mix: six 1-bedroom, two 2-bedroom/1-bath, and one office (convertible to a 1-bedroom).
- Property features include on-site laundry, two storage units, tenant-provided appliances (microwaves, refrigerators, stoves), and gated access. Currently vacant, allowing for flexible use.
- Combined cap rate exceeds 8%, providing strong income stability due to the long-term master lease covering 100% of expenses.
Property Details for 801 8Th St
- Property type
- Apartment buildings
- Square Feet
- 16,636 SF
- Class
- B
- Year Renovated
- 2022
- Buildings
- 4
- Stories
- 2
- Units
- 16
Location Insight
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Latitude
- 33.5674736
- Longitude
- -112.062368
801 8Th St, Phoenix, Arizona
Nearby Similar for Sale
FAQs
- Where is the apartment building located?
- The property is located at 801 8Th St Phoenix, AZ.
- What is the asking price?
- The asking price for this property is $2,945,000.
- What are key features of this property?
- This property features: Fully leased 16-unit multifamily investment opportunity in Phoenix, AZ. Two 8-unit buildings located at 801 E Dunlap Ave and 8939 N 8th St. Can be purchased individually or as a portfolio.; Master-leased to a reputable sober living company, offering a stable, low-management income stream via a Triple Net (NNN) lease; tenant pays all property expenses (taxes, insurance, maintenance).; 801 E Dunlap Ave recently underwent over $200,000 in renovations including new bathrooms, flooring, appliances, paint, kitchen upgrades, enhanced security, and updated HVAC and water heaters.
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