Seller's Agent in 2025
Linda Gerchick
Gerchick Real Estate
(602) 688-9279
6 in this area
123 Total Sales
801 E Dunlap Ave Phoenix, AZ 85020
North Central Neighborhood
--
Bed
--
Bath
4,178
Sq Ft
1980
Built
Highlights
- Cooling Available
- Ceiling Fan
- Heat Pump System
- Sunnyslope High School Rated A
- Carpet
About This Home
As of May 2025Lease Highlights:Lease Beginning: 3/24/2024Lease Amount per Month: $9,500NNN Expenses: $3,432 (Taxes and Insurance) AnnualLease Expires: 4/31/2026Tenant Pays W/S/T and repairsOwner is extending the lease to a min. of 3 years but probably 5 yearsWhat 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: 3/24/2024Lease Amount per Month: $9,000NNN Expenses: $1,113 (Taxes and Insurance)Lease Expires: 4/31/2026Owner is extending the lease to a min. of 3 years but probably 5 yearsWhat 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.*
Last Agent to Sell the Property
Gerchick Real Estate License #BR114848000 Listed on: 09/06/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,331
Year Built
- Built in 1980
Home Design
- Composition Roof
- Block Exterior
Interior Spaces
- Ceiling Fan
Flooring
- Carpet
- Vinyl
Parking
- 16 Parking Spaces
- Carport
- Over 1 Space Per Unit
- Paved Parking
- On-Street Parking
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tax Lot 6
- Assessor Parcel Number 160-03-005
Community Details
Overview
- 8 Units
- Building Dimensions are IRR
- Ford Tract Subdivision
Building Details
- Operating Expense $3,431
- Gross Income $117,431
- Net Operating Income $114,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 6, 2024
Closed on
May 28, 2025
Sold by
Footprint Properties Llc
Bought by
Ho/Shih Living Trust and Ho
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Linda Gerchick
Gerchick Real Estate
List Price
$1,495,000
Sold Price
$1,495,000
Total Days on Market
187
Views
183
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-91.83%
Original Mortgage
$971,750
Outstanding Balance
$971,750
Interest Rate
6.83%
Mortgage Type
New Conventional
Estimated Equity
$380,750
Purchase Details
Closed on
Feb 5, 2016
Sold by
Dunlap Apartments Llc
Bought by
Footprint Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$664,000
Interest Rate
3.97%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Purchase Details
Closed on
Apr 6, 2011
Sold by
Boici Angel and Boici Florita
Bought by
Dunlap Apartments Llc
Purchase Details
Closed on
Nov 29, 2000
Sold by
Rental Property & Management Inc
Bought by
Boici Angel and Boici Florita
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$194,400
Interest Rate
8.12%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 2, 1997
Sold by
Rodriguez Luis F
Bought by
Rental Property & Management Inc
Purchase Details
Closed on
Nov 6, 1996
Sold by
A K M Enterprises Inc
Bought by
Rodriguez Luis F
Purchase Details
Closed on
Nov 8, 1994
Sold by
Montano Gilbert D and Montano Esther M
Bought by
A K M Enterprises Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
8.86%
Mortgage Type
Seller Take Back
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,495,000 | Wfg National Title Insurance C | |
| Special Warranty Deed | $399,000 | Pioneer Title Agency Inc | |
| Special Warranty Deed | -- | None Available | |
| Corporate Deed | $243,000 | Lawyers Title Of Arizona Inc | |
| Quit Claim Deed | -- | Nations Title Insurance | |
| Warranty Deed | $240,000 | -- | |
| Warranty Deed | $135,000 | United Title Agency |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $971,750 | New Conventional | |
| Previous Owner | $5,400,000 | Commercial | |
| Previous Owner | $685,000 | Commercial | |
| Previous Owner | $664,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $664,000 | Purchase Money Mortgage | |
| Previous Owner | $194,400 | Commercial | |
| Previous Owner | $115,000 | Seller Take Back |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/30/2025 05/30/25 | Sold | $1,495,000 | 0.0% | $358 / Sq Ft |
| 03/12/2025 03/12/25 | Pending | -- | -- | -- |
| 01/24/2025 01/24/25 | For Sale | $1,495,000 | 0.0% | $358 / Sq Ft |
| 01/09/2025 01/09/25 | Pending | -- | -- | -- |
| 09/06/2024 09/06/24 | For Sale | $1,495,000 | -- | $358 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,374 | $19,408 | -- | -- |
| 2024 | $2,331 | $18,484 | -- | -- |
| 2023 | $2,331 | $68,220 | $13,640 | $54,580 |
| 2022 | $2,255 | $48,920 | $9,780 | $39,140 |
| 2021 | $2,284 | $46,450 | $9,290 | $37,160 |
| 2020 | $2,227 | $37,860 | $7,570 | $30,290 |
| 2019 | $2,186 | $32,230 | $6,440 | $25,790 |
| 2018 | $2,129 | $27,750 | $5,550 | $22,200 |
| 2017 | $2,118 | $22,810 | $4,560 | $18,250 |
| 2016 | $2,079 | $21,330 | $4,260 | $17,070 |
| 2015 | $1,926 | $18,670 | $3,730 | $14,940 |
Source: Public Records
Agents Affiliated with this Home
-
Linda Gerchick
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6753569
APN: 160-03-005
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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