8939 N 8th St, Phoenix, AZ, 85020

FULLY LEASED ON A NNN ABSOLUTE LEASE ( 3 years) This meticulously upgraded 8-unit apartment complex offers a unique investment opportunity or a versatile property for various uses. The building features a comprehensive renovation and several high-quality enhancements, positioned in a competitive rental market. **Unit Mix:** - **6 Units:** 1-bedroom apartments - **2 Units:** 2-bedroom, 1-bath apartments - **1 Office Unit:** SEE Supplement **Renovations & Upgrades:** - **Apartment Upgrades (Rehabbed in 2024):** - **Units 1-7:** Thoughtful updates include new flooring and completely remodeled bathrooms. **Apartment 1** features the most extensive renovations, including full wall and flooring replacements. - **Bathrooms:** All bathrooms have been remodeled with new flooring, plumbing, toilets, showers, tiling, and cabinets. Each renovation cost approximately $12,000 per apartment. - **Office/Storage Space (Purple Door):** - **Building Addition:** Added for approximately $100,000, this versatile space can be used for office purposes or additional storage. - **Exterior Enhancements:** - **Brick Patio:** Installed in 2019 at a cost of $15,000, featuring TV and power outlets for enhanced tenant enjoyment. - **Security Gate:** Added in 2015 for $5,000, providing additional security. - **New Brick Wall:** A $5,000 investment for added privacy and security between the property and 801 E Dunlap. - **New Mailboxes and Stand:** Installed in August 2024 for $500, providing a fresh and organized mail solution. **Property Features:** - **Laundry Room:** Convenient on-site laundry facility. - **Storage Units:** Two storage units are included with the property. - **Tenant Amenities:** All units come equipped with microwaves, refrigerators, and stoves. - **Gated Property:** Added security and privacy for residents. - **Vacant Property:** Currently vacant to allow for diverse use options, such as a sobriety house or rental for cash flow. **Investment Potential:** With recent extensive renovations and a range of enhancements, this property is ideal for a variety of uses. Its current vacancy allows for flexible applications, whether for immediate rental income or specialized uses. **Buyer Information:** - **Note:** Buyers must confirm all facts and figures to ensure accuracy.