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.*
