8939 N 8th St - Apartments FOR SALE


Phoenix, AZ 85020- North Mountain
$1,635,000 USD
602-688-9279
8939 N 8th St, Phoenix, AZ for Sale
$1,635,000 USD
Apartments - FOR SALE
1/60
null | 8% Cap Rate

8939 N 8th St
Phoenix, AZ 85020
North Mountain


HIGHLIGHTS

  • Fully leased multifamily asset with eight residential units.
  • Extensive interior bathroom renovations completed in 2024.
  • Gated property with privacy wall and controlled access.
  • On-site laundry facilities provide additional tenant convenience.
  • Actual NNN Absolutely

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,635,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

8

PRICE/UNIT

$204,375

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,257 SF

ZONING

R-4

APN/PARCEL ID

160-03-012A

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.