8939 N 8th Street , Phoenix, AZ 85020
Phoenix, AZ 85020
Description
**Overview:** This meticulously upgraded 8-unit apartment complex offers a unique investment opportunity or a versatile property for various uses. The building features a comprehensive renovation and several high-quality enhancements, positioned in a competitive rental market. **Unit Mix:** - **6 Units:** 1-bedroom apartments - **2 Units:** 2-bedroom, 1-bath apartments - **1 Office Unit:** This is one of the units. Currently used as an office space with a remodeled bathroom. The seller is willing to convert this unit into to a one bedroom apartment if requested prior to the close of escrow. SEE Supplement **Renovations & Upgrades:** - **Apartment Upgrades (Rehabbed in 2024):** - **Units 1-7:** Thoughtful updates include new flooring and completely remodeled bathrooms. **Apartment 1** features the most extensive renovations, including full wall and flooring replacements. - **Bathrooms:** All bathrooms have been remodeled with new flooring, plumbing, toilets, showers, tiling, and cabinets. Each renovation cost approximately $12,000 per apartment. - **Office/Storage Space (Purple Door):** - **Building Addition:** Added for approximately $100,000, this versatile space can be used for office purposes or additional storage. - **Exterior Enhancements:** - **Brick Patio:** Installed in 2019 at a cost of $15,000, featuring TV and power outlets for enhanced tenant enjoyment. - **Security Gate:** Added in 2015 for $5,000, providing additional security. - **New Brick Wall:** A $5,000 investment for added privacy and security between the property and 801 E Dunlap. - **New Mailboxes and Stand:** Installed in August 2024 for $500, providing a fresh and organized mail solution. **Property Features:** - **Laundry Room:** Convenient on-site laundry facility.- **Storage Units:** Two storage units are included with the property.- **Tenant Amenities:** All units come equipped with microwaves, refrigerators, and stoves.- **Gated Property:** Added security and privacy for residents.- **Vacant Property:** Currently vacant to allow for diverse use options, such as a sobriety house or rental for cash flow. **Investment Potential:**With recent extensive renovations and a range of enhancements, this property is ideal for a variety of uses. Its current vacancy allows for flexible applications, whether for immediate rental income or specialized uses. **Buyer Information:**- **Note:** Buyers must confirm all facts and figures to ensure accuracy.
Details
| MLS# | 6749873 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | For-sale |
| Status | Active |
| Year | 1987 |
| Days On Site | 20 |
| Listing Provided By | Gerchick Real Estate | Linda S Gerchick |
Features
| Pool | Yes |
|---|---|
| Units | 7 |
| Building(s) | 3 |
| Zoning | R-4 |
Market Activity 85020
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Learn More About This Property
| State | AZ |
|---|---|
| County | Maricopa |
| City | Phoenix |
| Zip Code | 85020 |
| Area | Maricopa |
| Community Name | FORD TRACT |
| School District | Glendale Union High School Distr |
| Elementary School | Washington Elementary District |
| Middle School | Royal Palm Middle School |
| High School | Glendale Union High School Distr |
| Listing VS Median (in FORD TRACT) | |
Price: $1,475,000 low | high Med: $0 On Site: 20 low | high Med: | |
"All information should be verified by the recipient and none is guaranteed as accurate by ARMLS"