Listing Courtesy of: Linda S Gerchick - Gerchick Real Estate
602-688-9279
$1,495,000
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801 E DUNLAP Avenue Unit 801 Phoenix, AZ 85020
Multi-Family
Residence
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Baths
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8-unit property fully leased to a reputable sober living company. NNN Lease: Tenant covers all property expenses (taxes, insurance, maintenance). Total Renovations: Over $200,000 invested in upgrades. New Bathrooms with tile showers - $50,000. Updated Flooring throughout - $40,000. New Appliances in...stalled - $10,000. Fresh Interior & Exterior Paint - $35,000. Enhanced Security: Steel fence, new doors, and surveillance cameras - $40,000. Recent HVAC & Hot Water Heater Upgrades - $34,000. Stable Income: Long-term lease provides predictable cash flow with minimal management. Disclaimer: Verify all financials and lease terms independently. ### Investment Opportunity: Fully Leased 8-Unit Property in Phoenix, AZ
**Location**: 801 E Dunlap Ave, Phoenix, AZ
**Overview:**
This exceptional investment opportunity presents a fully leased 8-unit property master leased to a reputable sober living company. Located in the heart of Phoenix, AZ, this property is strategically positioned to offer stable income with minimal management responsibilities.
**NNN Lease Structure Explained:**
The property operates under a Triple Net (NNN) lease, where the tenant assumes responsibility for all property expenses including taxes, insurance, and maintenance costs. This ensures predictable cash flow for the investor without the typical day-to-day management hassles.
**Property Highlights:**
- **Recent Renovations:** Over $200,000 in recent upgrades including:
- New bathrooms featuring tile showers ($50,000)
- Updated flooring throughout ($40,000)
- New or replaced appliances ($10,000)
- Fresh interior and exterior paint ($35,000)
- Modern kitchen upgrades including new cabinets ($10,000)
- Enhanced security with a steel fence and new exterior doors ($10,000)
- Upgraded finishes and lighting fixtures ($1,500)
- Improved laundry facilities ($2,000)
- Installation of surveillance cameras for added security ($22,000, operational status verified)
- Updated hot water heaters and AC units installed within the last 5 years ($34,000)
**Financial Overview:**
- **Lease Terms:** Long-term master lease with a reputable sober living company covering 100% of expenses.
- **Income Stability:** Predictable rental income with all expenses paid by the tenant, offering a hassle-free investment opportunity.
- **Capital Expenditures:** Recent renovations ensure reduced maintenance costs and increased tenant satisfaction, enhancing property value and marketability.
**Investment Considerations:**
This property represents an attractive opportunity for investors seeking stable cash flow and minimal management involvement. With a strong lease in place and recent capital improvements, it stands as a secure investment in the vibrant Phoenix real estate market.
*Disclaimer: Buyers are encouraged to verify all financial figures and lease terms independently.*
This marketing piece emphasizes the property's attractive investment potential, highlighting the NNN lease structure, recent renovations, and the stable income stream from a long-term tenant.
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MLS#
6753569
Property Type
Multi-Family
Year Built
1980
Sewer
Public Sewer
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