$1,495,000

801 E Dunlap Ave Phoenix, AZ 85020

$10,000
Closing credit¹
House

Property details

About 801 E Dunlap Ave

Lease Highlights: Lease Beginning: 3/24/2024 Lease Amount per Month: $9,500 NNN Expenses: $3,432 (Taxes and Insurance) Annual Lease Expires: 4/31/2026 Tenant Pays W/S/T and repairs 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.*

Highlights

Home typeOther
HeatingOther, Heat Pump, Electric
StatusSale Pending
CoolingCeiling Fan(s), Electric, Heat Pump, Other
Year built1980
ParkingOther, Paved, >1 Space Per Unit, On Street, Carport
MLS #6753569

Summary

  • MLS Number: 6753569
  • MLS Name: Arizona Regional Multiple Listing Service 2
  • Office Name: Gerchick Real Estate
  • Office Phone: (602) 688-9279
  • Office Email: linda@justsoldit.com
  • Listing Agent: Linda S Gerchick

IDX The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2025 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/14/2025, 10:22:20 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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aerial view with a residential view and a mountain view

$1,495,000

801 E Dunlap Ave

$10,000

closing credit¹

Sell your home with Rocket and save even more!

Seller rebate

0.5% sale price²

Price information

Property sales

DateEventPrice
Feb 11, 2016
Home Sold
$399,000
Dec 01, 2000
Home Sold
$243,000
Nov 06, 1996
Home Sold
$240,000
Nov 14, 1994
Home Sold
$135,000
Mar 26, 1992
Home Sold
$141,866
Sep 08, 1987
Home Sold
$183,700

Tax history

YearAssessmentProperty Tax
2024$94,720$2,330
2023$68,220$2,254
2022$48,920$2,283
2020$37,860$2,226
2019$32,230$2,128
2017$22,810$2,117

History based on county public records data.

Nearby schools

3

Desert View Elementary School

Public District PK-6

0.5 mi

8621 N 3rd St

7

Madison Simis Elementary School

Public District PK-4

1.7 mi

7302 N 10th St

3

Richard E. Miller Elementary School

Public District KG-5

2.3 mi

2021 W Alice Ave

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $47,910. The most common annual income of people living in Phoenix, AZ is between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

How much money do the neighbors make?

34%
<35k
45%
35k-100k
20%
100k-200k
1%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree
Masters Degree

What types of families live nearby?

55%
Single, No Kids
13%
Single, with Kids
16%
Married, No Kids
16%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

15%
<11 yrs old
8%
12-17 yrs old
23%
18-34 yrs old
41%
35-64 yrs old
13%
65+ yrs old

What do the neighbors do for fun?

  • Pro BoxingPro Boxing
  • Major League Soccer (MLS)Major League Soccer (MLS)
  • Mexican League SoccerMexican League Soccer

Where do the neighbors shop?

  • BurlingtonBurlington
  • H&MH&M
  • Foot LockerFoot Locker

Where do the neighbors go to eat?

  • White CastleWhite Castle
  • PopeyesPopeyes
  • Boston MarketBoston Market

What do the neighbors drive?

  • KiaKia
  • NissanNissan
  • HondaHonda

What do the neighbors listen to?

  • Urban Adult ContemporaryUrban Adult Contemporary
  • Rhythmic Contemporary HitsRhythmic Contemporary Hits
  • NewsNews
All data provided by Home Junction and Claritas

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Frequently asked questions

About 801 E Dunlap Ave

This home is located at 801 E Dunlap Ave in Phoenix, AZ and zip code 85020 in the North Mountain neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since September 6, 2024 and is currently priced at $1,495,000.

In February 2025, from all listings sold in Phoenix, AZ there were more than 185 sold above asking price, over 657 sold below and more than 322 were sold right at the asked price. Between January and February 2025, Phoenix, AZ real estate market has seen increase in the number of listings by 11.5%. In February 2025, listings were on the market for 71 days. During the same period, the median list price in this real estate market was $456,254.

From Rocket Homes Real Estate and based on county public records data.

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