8939 N 8TH Street, Phoenix, AZ 85020

Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:

Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.

Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.

Lease: Absolute NNN Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.

Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.

NO SELLER CARRY- see additional information Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:

Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.

Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.

Triple NNN Lease: Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.

Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.

Property Highlights:

Location: Strategically positioned in a thriving area known for its economic stability and growth potential.

Tenant Quality: Established tenant with a strong track record in property care and financial responsibility.

Investment Appeal: Ideal for investors seeking passive income with minimal management involvement and reliable returns.

Financial Snapshot:

Lease Rate: $10,500 per month with scheduled increases, enhancing cash flow over the lease term.

Cap Rate: 8.25% – A strong return on investment with steady, growing income.

Tenant Stability: Secure income stream backed by a reputable tenant committed to property upkeep and lease obligations.

Property Details:
– Comprehensive Renovation: Extensive upgrades position this building competitively in the rental market.
– Unit Mix:
– **6 Units:** 1-bedroom apartments
– **2 Units:** 2-bedroom, 1-bath apartments
– **1 Office Unit:** Currently used as an office space, can be converted to a 1-bedroom apartment upon request.

– **Renovations & Upgrades:**
– **Apartment Upgrades (Rehabbed in 2024):** Each of the 7 units has been thoughtfully updated, with bathroom renovations costing approximately $12,000 per unit.
– **Office/Storage Space Addition:** Added for approximately $100,000, this versatile space can serve multiple purposes.

– **Exterior Enhancements:**
– Brick patio installed in 2019 ($15,000), featuring TV and power outlets.
– Security gate added in 2015 ($5,000).
– New brick wall for added privacy ($5,000).
– New mailboxes installed in August 2024 ($500).

**Property Features:**
– On-site laundry facility
– Two storage units included
– Tenant amenities such as microwaves, refrigerators, and stoves in all units
– Gated property for security and privacy
– Currently leased in a Master Lease on an Absolute NNN Lease

Buyer Information:
Buyer to verify all facts and figures.
There is NO SELLER CARRY