#6732554, Stephen Michael Patterson II, Stephen Patterson, Listing office: eXp Realty
#6749873·
Listing office: Gerchick Real Estate·
Listing agent: Linda S Gerchick·
Listing office phone: 602-688-9279
$1,590,000 List price
8939 N 8th St Phoenix, AZ 85020
House
Property details
About 8939 N 8th St
FULLY LEASED ON A NNN ABSOLUTE LEASE ( currently negotiating with a new tenant for a 5 year lease with a five year option as well). NEW LEASE EXTRACTION: Starting November 1st 2025 Five year Lease at $10,500 Five Year Option to Renew Lease Bumps and Absolute NNN LEASE EXTRACTION: 2-1-2025- $9,500 Insurance By Month $91.67 Property Taxes by Month $336.67 Water Sewer and Trash Paid by Tenant Maintenance paid by Tenant Rent plus NNN Expenses Lease started: October 28th, 2024 Lease End: 12 months See information under additional information for extensive information. Property Highlights (8939 N 8th St): - Comprehensive Renovation: Extensive upgrades position this building competitively in the rental market. - Unit Mix: - **6 Units:** 1-bedroom apartments - **2 Units:** 2-bedroom, 1-bath apartments - **1 Office Unit:** Currently used as an office space, can be converted to a 1-bedroom apartment upon request. - **Renovations & Upgrades:** - **Apartment Upgrades (Rehabbed in 2024):** Each of the 7 units has been thoughtfully updated, with bathroom renovations costing approximately $12,000 per unit. - **Office/Storage Space Addition:** Added for approximately $100,000, this versatile space can serve multiple purposes. - **Exterior Enhancements:** - Brick patio installed in 2019 ($15,000), featuring TV and power outlets. - Security gate added in 2015 ($5,000). - New brick wall for added privacy ($5,000). - New mailboxes installed in August 2024 ($500). **Property Features:** - On-site laundry facility - Two storage units included - Tenant amenities such as microwaves, refrigerators, and stoves in all units - Gated property for security and privacy - Currently leased in a Master Lease on an Absolute NNN Lease **Financial Overview:** Cap Rate: Cap rate of over 7%, presenting a lucrative investment opportunity. Income Stability:** Long-term master lease covering 100% of expenses, ensuring predictable rental income. **Investment Potential:** These properties represent an attractive opportunity for investors seeking stable cash flow with minimal management involvement. The extensive renovations and enhancements significantly improve the property's value and marketability. Buyer Information: Buyer to verify all facts and figures.
Highlights
Home typeOther
HeatingOther, Heat Pump, Electric
StatusActive
CoolingCeiling Fan(s), Heat Pump, Other
Year built1987
ParkingOther, Paved, Free, >1 Space Per Unit, On Street
MLS #6749873
Summary
- Flooring Type: Carpet, Ceramic Tile
- Parking: Other, Paved, Free, >1 Space Per Unit, On Street
- Heating: Other, Heat Pump, Electric
- Cooling: Ceiling Fan(s), Heat Pump, Other
- List Price: $1,590,000
- Annual Tax Amount: $3,966
- Tax Year: 2024
- Year Built: 1987
- MLS Number: 6749873
- 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
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: 7/17/2025, 4:45:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Mar 05, 2015 | Home Sold | $335,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $105,950 | $3,966 |
| 2023 | $80,660 | $3,837 |
| 2022 | $55,620 | $3,886 |
| 2020 | $41,850 | $3,789 |
| 2019 | $36,520 | $3,623 |
| 2017 | $22,920 | $1,834 |
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.
Neighborhood
The neighbors living near this home have an average income of $47,910. Most Phoenix, AZ residents have annual incomes 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 Boxing
Major League Soccer (MLS)
Mexican League Soccer
Where do the neighbors shop?
Burlington
H&M
Foot Locker
Where do the neighbors go to eat?
White Castle
Popeyes
Boston Market
What do the neighbors drive?
Kia
Nissan
Honda
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
News
All data provided by Home Junction and Claritas
Similar homes for sale
#6774986, Edson Salas, Listing office: ES Realty
#6832689, Scott A Jarson, Listing office: AZArchitecture/Jarson & Jarson
#6864031, Chad A Barber, Listing office: Fenix CRE
#6802961, James Powers, Listing office: CR Property Services, Inc
#6823514, Breanna Nichole Roberts, Kimberli Horyza, Listing office: Compass
#6758735, Deborah L Frazelle, Listing office: Coldwell Banker Realty
#6879048, Bobby H Lieb, Listing office: Compass
#6888302, Michael Bryce, Jonah Reinholz, Listing office: Gentry Real Estate
#6810598, Shawn Bellamak, Keren Montandon, Listing office: Shawn Bellamak Realty
Frequently asked questions
About 8939 N 8th St
The listing price of 8939 N 8th St property is $1,590,000.
The property 8939 N 8th St is a house located in Phoenix, Arizona, 85020.
Active Listing: 8939 N 8th St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 8939 N 8th St are: Desert View Elementary School (GreatSchools Rating 3/10), Madison Simis Elementary School (GreatSchools Rating 7/10), Richard E. Miller Elementary School (GreatSchools Rating 3/10), Sunnyslope School (GreatSchools Rating 2/10), Mountain View School (GreatSchools Rating 1/10), Royal Palm Middle School (GreatSchools Rating 4/10), Sunnyslope High School (GreatSchools Rating 7/10), Shadow Mountain High School (GreatSchools Rating 5/10), Pillar Academy Online (GreatSchools Rating 3/10).
According to the records, the last property tax for 2024 is $3,966 (source: MLS/based on county public records data).
The last sale was on March 5, 2015 for $335,000 (source: MLS/tax record).
The property at 8939 N 8th St has 0 bathroom.
The year of construction for 8939 N 8th St is 1987.
This home is located at 8939 N 8th St in Phoenix, AZ and zip code 85020 in the North Mountain neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since August 29, 2024 and is currently priced at $1,590,000.
Over 188 listings were sold over their listed price in June 2025 in Phoenix, AZ. In the same period over 788 listings were sold below the listed price and 341 listings were sold for the listed price. The inventory of homes for sale in Phoenix, AZ between May and June 2025 decreased by 0.2%. Listings spent 67 days on the market in June 2025, and had a median list price of $460,087 during the same period.
From Rocket Homes Real Estate and based on county public records data.