8939 N 8th St Phoenix, AZ 85020

The property is located in a high rental-demand area and has just been professionally refurbished at a cost of more than $120,000 ($17,000+ per unit). The owner has acquired the services of a professional management company to begin immediate lease up of the units during the marketing and escrow period. The new owner will have the choice of continuing with professional management or discontinuing the service. The quality of the work and the attention to detail will make this very easy to lease quickly at strong rents. Note: All Financial Data is Proforma as current owner has never operated this property. Some of the refurbishing's include: new asphalt-shingled pitched roofs on 2 buildings and a refurbished foam roof on the small building, new cabinets & counters, new microwaves in 5 units, new ceramic tile, new carpet, new tub surrounds and vanities, new doors, new plumbing and electrical (where needed), all double pain windows and all new 14 SEER HVAC units. The quality and amount of work will minimize expenses. New kitchen appliances will be added as the units are leased. Washers and dryers for the laundry room will be leased to provide extra income to the owner and minimize maintenance.

There are three buildings. The front building is the older building and has a small two-bedroom and a one-bedroom unit. The middle building has three large one-bedroom units plus wood-burning fireplaces and attractive brick hearths. The rear building has three one-bedroom units, each with large, high-walled backyards. At the south-end of this building is a laundry room (set for two washers and two dryers) and a secure storage room. The property is all electric except for individually metered gas hot water heaters on the front and middle buildings.