8939 N 8TH Street, Phoenix, AZ 85020

$1,625,000

Virtual Tour

https://tours.arizonarealtours.com/2369490?idx=1

Property Type: Multiple Dwellings Bedrooms: 10 Baths: 8 Status: Active

Current Price: $1,625,000 Last Modified: 9/15/2026

Overview

Description

Eight-unit Phoenix multifamily investment under one Absolute NNN master lease. Offered at $1,625,000 with current Year-2 base rent and NOI of $127,200, a 7.83% cap rate. Six 1BR and two 2BR units across three buildings. Tenant pays taxes, insurance, utilities and operating expenses. Lease runs through 8/31/2030 with $100 monthly base-rent increases at each remaining lease-year anniversary, two five-year options, a personal guarantee and first right of refusal. Interior renovations, gated courtyard, on-site laundry and three storage rooms enhance the property. No seller financing. Do not disturb tenants. Buyer to verify all information.

Supplements: Acquire eight residences supported by a single Absolute NNN master lease in Phoenix's Sunnyslope/North Mountain area. The property includes six one-bedroom/one-bath units and two two-bedroom/one-bath units in three one-story buildings. Reported building area is approximately 4,461 SF on approximately 14,257 SF of land. The initial lease began Septe ... (Read more)

Listing Details MLS# 7061722

Location, Tax & Legal

House Number: 8939
Compass: N
Street Name: 8TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85020
Zip4: 6131
Country: US
County Code: Maricopa
Subdivision: FORD TRACT
Assessor Number: 160-03-012-A
Tax Year: 2025
Assessor's Map #: 3
Legal Description (Abbrev): LOT 12 FORD TRACT MCR 003230
Assessor's Parcel #: 12
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 105200
Taxes: 4198
Tax District: PHX
Legal: Legal to be provided by title
Marketing Name: NNN Leased

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1987
Uncvrd Parking Spcs: 12
Total # of Units: 8
# of Buildings: 3
Zoning: R-4
Flood Zone: TBD
High School District: Glendale Union High School District
High School: Sunnyslope High School

Remarks Misc

Cross Street: 7TH STREET AND DUNLAP
Directions: From 7th Street and Dunlap Avenue, head east on Dunlap to 8th Street. Turn right (south) onto 8th Street. Continue a short distance to 8939 N 8th Street on the left (east side).

Legal Info

Lot Number: 12 & 13

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 1270
Avg SqFt: 560
# Baths: Yes

More Information

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1490
Avg SqFt: 660
# Baths: Yes

Structure

Bedrooms Total: 10
Bathrooms Total: 8

Income Expenses

Gross Annual Sch Inc: 127212
Net Operating Income: 127200

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

Project Type

5 - 12 Units: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes
Foam: Yes
Rolled: Yes

Floors

Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes
Laundry Equipment: Yes
Other (See Remarks): Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 8536.92
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 12734.92
Other Income: 12577.32
Vacancy Allowance: 0
Adjusted Gross Inc: 127212
Total Monthly Rental Income: 10600

Pmt & Rate Info

Cap Rate: 7.83
Equity: 1625000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes
Manager Res/Office: Yes
Barbecue: Yes
Other: Yes
See Remarks: Yes

Heating

Heat Pump: Yes
Electric: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes
Individual: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Curb(s) & Gutter(s): Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Separate Storage: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Gas: Yes
Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes
Landscaping: Yes
Other (See Remarks): Yes

Appliances Included

Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes
Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
On Street: Yes
>1 Space Per Unit: Yes
Paved: Yes
Other: Yes

Electric

APS: Yes
Individual Meter: Yes
Other (See Remarks): Yes

Gas

None: Yes

Owner Pays

None: Yes

New Financing

Cash: Yes
Conventional: Yes
No Carry: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes
APOD/Backup Avaible: Yes
Sch of Personal Prop: Yes
Other (See Remarks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Foam; Rolled Floors: Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Laundry Equipment; Other (See Remarks) Community Features: No Pool; Manager Res/Office; Barbecue; Other; See Remarks Exterior Amenities: Desert Landscaping; Fenced; Curb(s) & Gutter(s); Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Disposal; Microwave; Washer/Dryer; Other Heating: Individual; Heat Pump Cooling: Ceiling Fan(s); Heat Pump; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter; Other (See Remarks) Gas: None Parking Features: On Street; >1 Space Per Unit; Free; Paved; Other Road Surface Type: Asphalt Owner Pays: None Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Landscaping; Other (See Remarks) Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; No Carry Environmental: None

Listing Office: Gerchick Real Estate

Last Updated: September - 15 - 2026