Listing Courtesy of: Linda S Gerchick - Gerchick Real Estate
602-688-9279
$1,475,000
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8939 N 8TH Street Phoenix, AZ 85020
Multi-Family
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**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 U...nits:** 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.
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MLS#
6749873
Property Type
Multi-Family
Year Built
1987
Sewer
Public Sewer
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