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ACTUAL 8.03% – strong, stable return with ups 8939 N 8th St 8 Unit Apartment Building $1,635,000 ($204,375/Unit) 8% Cap Rate Phoenix, AZ 85020
Investment Highlights
- Fully leased multifamily asset with eight residential units.
- Gated property with privacy wall and controlled access.
- Actual NNN Absolutely
- Extensive interior bathroom renovations completed in 2024.
- On-site laundry facilities provide additional tenant convenience.
Executive Summary
8939 N 8th St presents an opportunity to acquire a fully leased multifamily asset in Phoenix's North Mountain area. The property consists of an eight-unit apartment community with a mix of six one-bedroom units and two two-bedroom units, complemented by additional office/storage space and on-site laundry facilities. Recent capital improvements completed in 2024 included extensive bathroom renovations featuring updated flooring, plumbing fixtures, showers, tiling, and cabinetry, helping position the property for continued tenant appeal and operational efficiency.
The property is configured as a low-rise apartment community on approximately 0.33 acres and benefits from security enhancements including a gated entrance and privacy wall. Additional tenant amenities include outdoor gathering space with a brick patio, storage areas, and in-unit appliances. The combination of recent renovations and existing amenities supports long-term occupancy and reduces the likelihood of near-term capital expenditures.
Located within the North Mountain submarket, the asset provides access to major employment, retail, and transportation corridors throughout central Phoenix. The surrounding area offers convenient connectivity to downtown Phoenix, the Camelback corridor, and the broader Phoenix-Mesa-Chandler metropolitan region. Phoenix Sky Harbor International Airport is approximately 13 miles away, enhancing regional accessibility. The property's location within an established residential area supports ongoing rental demand while providing investors exposure to one of the nation's largest metropolitan housing markets.
The property is configured as a low-rise apartment community on approximately 0.33 acres and benefits from security enhancements including a gated entrance and privacy wall. Additional tenant amenities include outdoor gathering space with a brick patio, storage areas, and in-unit appliances. The combination of recent renovations and existing amenities supports long-term occupancy and reduces the likelihood of near-term capital expenditures.
Located within the North Mountain submarket, the asset provides access to major employment, retail, and transportation corridors throughout central Phoenix. The surrounding area offers convenient connectivity to downtown Phoenix, the Camelback corridor, and the broader Phoenix-Mesa-Chandler metropolitan region. Phoenix Sky Harbor International Airport is approximately 13 miles away, enhancing regional accessibility. The property's location within an established residential area supports ongoing rental demand while providing investors exposure to one of the nation's largest metropolitan housing markets.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,635,000 | Building Class | C |
| Price Per Unit | $204,375 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 4,558 SF |
| Cap Rate | 8% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 2.63/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4 - Residential | ||
| Price | $1,635,000 |
| Price Per Unit | $204,375 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 4,558 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 2.63/1,000 SF |
| Zoning | R-4 - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Storage Space
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Porch
- Window Coverings
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 330 - 560 |
| 2+1 | 2 | - | 660 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 160-03-012A | Total Assessment | $33,034 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
160-03-012A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$33,034
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Contact the Sale Advisor
ACTUAL 8.03% – strong, stable return with ups | 8939 N 8th St