8916-8918 N 11th St - Apartments FOR SALE


Phoenix, AZ 85020- North Mountain
$525,000 USD
602-688-9279
8916-8918 N 11th St, Phoenix, AZ for Sale
$525,000 USD
Apartments - FOR SALE
1/32
null | 3.98% Cap Rate

8916-8918 N 11th St
Phoenix, AZ 85020
North Mountain


HIGHLIGHTS

  • Two-property offering at 8916 and 8918 N 11th Street in Phoenix’s Sunnyslope neighborhood
  • 100% occupied, income-producing duplex with two separately rented units
  • Current scheduled rent of $2,400 monthly and $28,800 annually
  • Current NOI of $20,874, providing a 3.98% cap rate at the $525,000 asking price
  • Two separate parcels: APN 160-02-067 and APN 160-02-068 per the plans—buyer to verify
  • Approximately 14,263 gross square feet of combined land area, or approximately 0.327 acre

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$282 USD /SF

# OF UNITS

2

PRICE/UNIT

$262,500

CAP RATE

3.98%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Occupied Duplex + Separate Fourplex Planning

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,263 SF

ZONING

R-4

APN/PARCEL ID

160-02-067,160-02-068

ASK ABOUT THIS PROPERTY

Linda GerchickGerchick Real EstateMore Info
602-688-9279

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Linda GerchickGerchick Real EstateMore Info
602-688-9279

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.