8939 N 8TH Street, Phoenix AZ 85020
$1,550,000
Brokerage: Ivy Realty(623) 299-4954
1 / 29Home facts
- Price
- $1,550,000
- Status
- Active
- Beds
- 10
- Baths
- 8
- Year built
- 1987
- Type
- F
- Pool
- No
- Water
- Master Meter, City Franchise
- Sewer
- Sewer - Public
- Subdivision
- FORD TRACT
- MLS #
- 7061722
Listed by Gerchick Real Estate · 602-688-9279
Courtesy of ARMLS · Presented by Ivy Realty, (623) 299-4954
About this home
Eight-unit Phoenix multifamily investment under one Absolute NNN master lease. Offered at $1,625,000 with current Year-2 base rent and NOI of $127,200, a 8.21% cap rate. Six 1BR and two 2BR units across three buildings. Tenant pays taxes, insurance, utilities and operating expenses. Lease runs through 8/31/2030 with $100 monthly base-rent increases at each remaining lease-year anniversary, two five-year options, a personal guarantee and first right of refusal. Interior renovations, gated courtyard, on-site laundry and three storage rooms enhance the property. No seller financing. Do not disturb tenants. Buyer to verify all information.
Features
Roof
Composition, Foam, Rolled/Hot Mop
Sewer
Sewer - Public
Cooling
Ceiling Fan(s), Heat Pump, Individual
Heating
Individual, Heat Pump, Electric
Electric
Other (See Remarks), APS, Individual Meter
Flooring
Carpet, Ceramic Tile
WaterSource
Master Meter, City Franchise
ParkingFeatures
Other, Paved, Free, >1 Space Per Unit, On Street
CommunityFeatures
Other, See Remarks, Barbecue, Manager Res/Office, No Pool
ConstructionMaterials
Wood Frame, Painted, Stucco, Block
Map
Price and status history
| Date | Change | From → To |
|---|---|---|
| Sep 30, 2026 | Price | $1,625,000 → $1,550,000 |
Nearby sales
Closed within about ¾ mile in the last 6 months (ARMLS).
| Address | Sold | Price | Beds/Baths | Sq ft | Listing brokerage |
|---|---|---|---|---|---|
| 10005 N 1ST Drive | Sep 29, 2026 | $570,000 | 2/3 | 1,837 | DeLex Realty |
| 9424 N 2ND Place | Sep 27, 2026 | $305,500 | 2/1 | 840 | HomeSmart |
| 8225 N CENTRAL Avenue 9 | Sep 24, 2026 | $325,000 | 2/2 | 1,350 | The Brokery |
| 9115 N 13TH Street | Sep 24, 2026 | $303,500 | 2/1 | 780 | HomeSmart |
| 8819 N 12TH Place | Sep 3, 2026 | $215,000 | 2/2 | 924 | Century 21 Arizona Foothills |
| 125 E GRISWOLD Road | Sep 2, 2026 | $1,900,000 | 5/5 | 3,510 | My Home Group Real Estate |
Source: ARMLS IDX via Ivy Realty, updated Oct 2, 4:32 PM (Arizona time).
Listing information courtesy of the Arizona Regional Multiple Listing Service (ARMLS). Information deemed reliable but not guaranteed. Copyright ARMLS.
Use of this search or AI does not create an agency relationship. Agency begins only with a written agreement with Ivy Realty.
Ivy Realty · 20325 N 51st Ave, Bldg 5, Ste 134, Glendale, AZ 85308 · (623) 299-4954 · Designated Broker Ivy Clay, License #LC722089000
Equal Housing Opportunity
Licensees: see Ivy Realty plans (100% plan $25/mo + $395 per closed transaction, or 80/20 with $0 monthly and $0 per transaction).