NNN Master Lease-8 Unit Apartment Building 8939 N 8th St 8 Unit Apartment Building $1,625,000 ($203,125/Unit) 8.09% Cap Rate 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.
Triple Net 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: 8.09% - 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
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
Act Now: Don’t miss out on this opportunity to secure a stable, long-term investment with an attractive 8.08% cap rate. Contact us today to learn more and explore this exclusive NNN lease opportunity.