8939 N 8TH Street, Phoenix, AZ 85020, Phoenix AZ 85020
Eight-unit Phoenix multifamily investment under one Absolute NNN master lease. Offered at $1,625,000 with current Year-2 base rent and NOI of $127,200, a 8.21% cap rate. Six 1BR and two 2BR units across three buildings. Tenant pays taxes, insurance, utilities and operating expenses. Lease runs through 8/31/2030 with $100 monthly base-rent increases at each remaining lease-year anniversary, two five-year options, a personal guarantee and first right of refusal. Interior renovations, gated courtyard, on-site laundry and three storage rooms enhance the property. No seller financing. Do not d
CloseDaily local analysis
Facts and context beyond the MLS description
The sections below combine this listing's current facts with locally retained inventory, sale, and location data. They are generated from the same MLS replica that powers the page, without an external data request during your visit.
Current market context
How this property compares in Phoenix
This property is grouped with the current five-or-more-bedroom homes in Phoenix. Its asking price falls near the 76th percentile of that active group. The comparison uses 693 active or publicly marketable listings from the same local MLS source, filtered to the same bedroom group rather than mixing every home size together.
The property has been tracked for 0 days, while the current cohort averages 0 days on market. These figures are a point-in-time inventory comparison, not an appraisal or prediction; condition, lot, updates, exact location, and concessions can move an individual sale away from the city-level pattern.
Nearby closed sales
Recent sold homes near this property
The local sold-history cache contains 8 closed sales within approximately 1.25 miles during the last six months. The median recorded sold price in this nearby sample is $390,000, and the median is $323 per square foot where square footage was reported.
Nearby sales are useful context, but they are not automatically comparable: renovation level, acreage, water access, construction quality, financing, and seller concessions can materially change a result. A property-specific valuation should review the most similar homes and the full MLS record before drawing a conclusion.
| Address | Sold | Home | Sold price | Distance |
|---|---|---|---|---|
| 8920 N 10TH Street, Phoenix, AZ 85020 | May 5, 2026 | 2 bd · 880 sqft | $284,580 | 0.1 mi |
| 9108 N CAVE CREEK Road, Phoenix, AZ 85020 | Jul 21, 2026 | — · 1,010 sqft | $350,000 | 0.2 mi |
| 833 E ALICE Avenue, Phoenix, AZ 85020 | Apr 30, 2026 | 4 bd | $449,900 | 0.2 mi |
| 1018 E RUTH Avenue, Phoenix, AZ 85020 | Jul 22, 2026 | 4 bd · 1,430 sqft | $485,000 | 0.3 mi |
| 1145 E EVA Street, Phoenix, AZ 85020 | Apr 2, 2026 | 4 bd · 1,758 sqft | $265,000 | 0.3 mi |
| 9124 N 12TH Street, Phoenix, AZ 85020 | May 20, 2026 | 3 bd · 1,277 sqft | $275,000 | 0.3 mi |
| 1123 E ALICE Avenue, Phoenix, AZ 85020 | Jul 2, 2026 | 4 bd · 1,267 sqft | $430,000 | 0.3 mi |
| 1013 E DIANA Avenue, Phoenix, AZ 85020 | Jul 23, 2026 | 3 bd · 1,797 sqft | $524,900 | 0.3 mi |
MLS timeline
Price and status history
This timeline records the price and public status snapshots received by CloseDaily from the local MLS replica. It is retained separately from the current listing so later changes do not erase the earlier market history. Dates reflect when the source record changed or was first observed by the sync system.
- $1,550,000 · Active
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