11 days on rocket

801 E Dunlap Ave, Phoenix, AZ, 85020

$2,945,000

0 Baths
House

Location

Image provided by Mapbox

Property Highlights

Home TypeOther
ParkingOther (See Remarks), Paved Parking, Free, >1 Space Per Unit
Year Built1980
HeatingOther, Heat Pump
CoolingOther, Heat Pump, Ceiling Fan(s)
MLS #6793555
StatusActive

About 801 E Dunlap Ave

This is 2 properties --Both are leased on a NNN Lease-Tenants pay 100% of the expenses-Taxes, Insurance, ALL repairs along with the rent. The properties are side by side.-See Supplement for extensive information. Investment Opportunity: Fully Leased 16-Unit Property in Phoenix, AZ on an Absolute NNN Lease **Locations: - 801 E Dunlap Ave - 8939 N 8th St **Overview:** This exceptional investment opportunity features two fully leased 8-unit properties, strategically located in the heart of Phoenix, AZ. Both buildings are master leased to a reputable sober living company, providing stable income with minimal management responsibilities. These contiguous properties can be purchased separately or as a combined investment. **NNN Lease Structure Explained:** The properties operate under a Triple (NNN) lease structure, wherein the tenant assumes responsibility for all property expenses, including taxes, insurance, and maintenance costs. This arrangement ensures predictable cash flow for the investor while minimizing the typical day-to-day management hassles. **Property Highlights (801 E Dunlap Ave):** - **Recent Renovations:** Over $200,000 in upgrades, including: - New bathrooms featuring tile showers ($50,000) - Updated flooring throughout ($40,000) - New or replaced appliances ($10,000) - Fresh interior and exterior paint ($35,000) - Modern kitchen upgrades with new cabinets ($10,000) - Enhanced security with a steel fence and new exterior doors ($10,000) - Upgraded finishes and lighting fixtures ($1,500) - Improved laundry facilities ($2,000) - Installation of operational surveillance cameras ($22,000) - Updated hot water heaters and AC units installed within the last 5 years ($34,000) **Property Highlights (8939 N 8th St):** - **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 vacant to allow for diverse use options, such as a sobriety house or rental for cash flow. **Financial Overview:** - **Cap Rate:** Combined cap rate of over 8%, presenting a lucrative investment opportunity. - **Income Stability:** Long-term master lease covering 100% of expenses, ensuring predictable rental income. **Investment Potential:** These properties represent an attractive opportunity for investors seeking stable cash flow with minimal management involvement. The extensive renovations and enhancements significantly improve the property's value and marketability. Buyer Information Buyer to verify all facts and figures.

Property Details

Property Features

Property Information:

  • Year Built: 1980

Listing Office:

  • Office Name: Gerchick Real Estate
  • Office Phone: (602) 688-9279
  • Listing Agent: Linda S Gerchick

Interior Features

Interior Information:

  • Flooring Type: Other, Ceramic Tile

Exterior Features

Parking Information:

  • Parking: Other (See Remarks), Paved Parking, Free, >1 Space Per Unit

Utilities

Utilities Information:

  • Heating: Other, Heat Pump
  • Cooling: Other, Heat Pump, Ceiling Fan(s)

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,945,000

Tax Information:

  • Annual Amount: $2,284
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Phoenix, AZ.

Med. Sold Price

$452.3K

Med. Price/SqFt

$285

Avg. Days On Market

63

# of Sold Homes

1138

801 E Dunlap Ave vs Phoenix

11 DAYS ON ROCKET

-52 Days

$2,945,000

+$2.4M More

KEY TAKEAWAY

This property is $2.4M more than the Median Sold Price in Phoenix, AZ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Arizona Regional Multiple Listing Service 2
  • MLS Number: #6793555

Listing Office:

  • Office Name: Gerchick Real Estate
  • Office Phone: (602) 688-9279
  • Listing Agent: Linda S Gerchick

IDX The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/23/2024, 11:21:04 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 01, 2000Home Sold
$243,000
Nov 06, 1996Home Sold
$240,000
Nov 14, 1994Home Sold
$135,000
Mar 26, 1992Home Sold
$141,866
Sep 08, 1987Home Sold
$183,700

Tax History

YEARPROP. TAXASSESSMENT
2021$2,284$46,450
2020$2,226$37,860
2019$2,128$32,230
2017$2,118$22,810

History based on county public records data.

Payment Calculator

$14.7K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$8,896

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-1180386
3
/10
  • Desert View Elementary School

  • 8621 N 3rd St

  • 0.47 miles

  • Public District Grades PK-6

school-card-donut-1180387
7
/10
  • Madison Simis Elementary School

  • 7302 N 10th St

  • 1.71 miles

  • Public District Grades PK-4

school-card-donut-1180388
3
/10
  • Richard E. Miller Elementary School

  • 2021 W Alice Ave

  • 2.31 miles

  • Public District Grades KG-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $47,910. Residents of Phoenix, AZ typically earn between $35k-100k each year. Most families are single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 801 E Dunlap Ave

What is the listing price of this property?

The listing price of 801 E Dunlap Ave property is $2,945,000.

What type of property is this?

The property 801 E Dunlap Ave is a house located in Phoenix, Arizona, 85020.

Is this property for sale now?

Active Listing: 801 E Dunlap Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $2,284 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on December 1, 2000 for $243,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 801 E Dunlap Ave is 1980.
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Rocket Homes›Arizona›Maricopa County›Phoenix›85020›801 E Dunlap Ave

This home is located at 801 E Dunlap Ave in Phoenix, AZ and zip code 85020 in the North Mountain neighborhood. This home was built in 1980. It has been listed on Rocket Homes since December 12, 2024 and is currently priced at $2,945,000.

Phoenix, AZ housing market in November 2024 saw over 201 listings sold above listed price, more than 301 sold at listed price and over 636 sold below. The number of homes for sale in Phoenix, AZ decreased by 1.4% between October 2024 and November 2024. The median list price of listings available in November 2024 was $452,345, while the average time on the real estate market was 63 days.

From Rocket Homes Real Estate and based on county public records data.

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