100% Occupied Duplex + Separate Fourplex Dev 8916 N 11th St 2 Unit Apartment Building $525,000 ($262,500/Unit) 3.98% Cap Rate Phoenix, AZ 85020

8916 and 8918 N 11th Street offer a unique opportunity to acquire a 100% occupied duplex together with a separate rear R-4 development parcel in Phoenix’s Sunnyslope neighborhood.
The existing duplex at 8916 N 11th Street, APN 160-02-067, contains approximately 1,865 rentable square feet. Unit A is a 2-bedroom/1.5-bath unit of approximately 1,066 square feet, and Unit B is a 1-bedroom/1-bath unit of approximately 799 square feet. Both units are occupied at $1,200 per month, producing $2,400 in monthly scheduled rent and $28,800 annually. Tenants pay separately metered electricity and cable. Current NOI is $20,874, providing a 3.98% cap rate at the $525,000 asking price.
The offering also includes the separate rear parcel addressed as 8918 N 11th Street and identified in the plans as APN 160-02-068. This parcel conveys with a substantial planning and engineering package for a proposed two-story fourplex containing two 2-bedroom/2-bath units and two 3-bedroom/2-bath units, totaling approximately 3,709 square feet.
Available materials include a site plan, a 15-page architectural set, landscape plans, a geotechnical report, utility information and related legal and engineering documents. The plans are marked “Not for Construction.” Previous variances and approvals are subject to current City verification and may require renewal. Additional civil, fireline, water and sewer, building, mechanical, electrical and permitting work remains incomplete. The proposed development is not represented as permit-ready or shovel-ready.
The property is located near neighborhood services, employment centers, major transportation routes and a public park. This offering provides existing rental income today with the potential for future multifamily development on the additional parcel.
No seller financing is available.
Information is believed reliable but is not guaranteed. Buyer must independently verify occupancy, rents, expenses, square footage, parcel dimensions, zoning, title, variances, plans, permits, utilities, development costs and the feasibility of any proposed use. Tenant names, deposits, lease dates and lease documents are not included in public marketing and may be provided to a buyer under contract during due diligence.