Listing MLS# 6749873 Phoenix AZ Real Estate

Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.Lease: Absolute NNN Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.NO SELLER CARRY- see additional information Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.Triple NNN Lease: Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.Property Highlights:Location: Strategically positioned in a thriving area known for its economic stability and growth potential.Tenant Quality: Established tenant with a strong track record in property care and financial responsibility.Investment Appeal: Ideal for investors seeking passive income with minimal management involvement and reliable returns.Financial Snapshot:Lease Rate: $10,500 per month with scheduled increases, enhancing cash flow over the lease term.Cap Rate: 8.25% - A strong return on investment with steady, growing income.Tenant Stability: Secure income stream backed by a reputable tenant committed to property upkeep and lease obligations.Property Details:- 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 LeaseBuyer Information:Buyer to verify all facts and figures.There is NO SELLER CARRY