801 E DUNLAP Avenue, Phoenix, AZ 85020

  • $1,495,000
801 E DUNLAP Avenue, Phoenix, AZ 85020
Active
801 E DUNLAP Avenue, Phoenix, AZ 85020
801 E DUNLAP Avenue, Phoenix, AZ 85020
  • $1,495,000

Description

Lease Highlights:
Lease Beginning: 3/24/2024
Lease Amount per Month: $9,000
NNN Expenses: $1,113 (Taxes and Insurance)
Lease Expires: 4/31/2026
Owner is extending the lease to a min. of 3 years but probably 5 years

What is a NNN? An Absolute NNN Lease simply means that the Tenant pays 100% of expenses. All repairs, all utilities, insurance and property taxes.

There is really good opportunity to own 8 units of Multifamily without many of the traditional expenses.

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. Lease Highlights:
Lease Beginning: 3/24/2024
Lease Amount per Month: $9,000
NNN Expenses: $1,113 (Taxes and Insurance)
Lease Expires: 4/31/2026
Owner is extending the lease to a min. of 3 years but probably 5 years

What is a NNN? An Absolute NNN Lease simply means that the Tenant pays 100% of expenses. All repairs, all utilities, insurance and property taxes.

There is really good opportunity to own 8 units of Multifamily without many of the traditional expenses.

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.

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.*

  • Address 801 E DUNLAP Avenue
  • City Phoenix
  • State/county AZ
  • Zip/Postal Code 85020
  • Area FORD TRACT
  • Country US

Details

Updated on December 5, 2024 at 2:56 pm
  • Property ID: 6753569
  • Price: $1,495,000
  • Garage Size: x x
  • Year Built: 1980
  • Property Type: Multiple Dwellings
  • Property Status: Active
  • MLS#: 6753569

Features

360° Virtual Tour

Mortgage Calculator

Monthly
  • Down Payment
  • Loan Amount
  • Monthly Mortgage Payment
  • Property Tax
  • Home Insurance
  • PMI
$
%
%
%
$
%

Contact Information

View Listings

Inquire About This Property

Compare listings

Compare
Kelley Norton
  • Kelley Norton