Investment Overview:

• 8939 N 8th Street offers investors a fully occupied eight-unit multifamily property operating under an Absolute NNN master lease. The property includes six one-bedroom units and two two-bedroom units, together with a dedicated on-site laundry room and three separate storage rooms. The asking price is $1,625,000. The Year 2 rent increase effective September 1, 2026 raises the actual cap rate to 7.83%. The tenant is responsible for property taxes, insurance, utilities, maintenance, and day-to-day operations, creating a highly passive investment with minimal ownership responsibilities. A recent appraisal supports the asking price.
• Lease Structure: The five-year Absolute NNN master lease commenced September 1, 2025 and continues through August 31, 2030. Year 2 base rent is $10,600 per month, or $127,200 annually, and the September 1, 2026 payment has been received. Base rent increases by another $100 per month at the beginning of each remaining lease year, providing $1,200 in additional annual income. Approximately four years remain on the initial term as of September 1, 2026. The lease includes two additional five-year renewal options, a personal guarantee, and a first right of refusal. Seller financing is not available.
• Property Improvements: The property received extensive interior renovations in 2024, including updated bathrooms, flooring, cabinetry, plumbing fixtures, shower finishes, and other improvements. Refrigerators, ranges, ovens, and microwaves are provided in every unit, and each unit has an individual HVAC system. Community features include gated access, a brick privacy wall, a paver courtyard and patio area with television and electrical connections, updated mailboxes, on-site parking, a dedicated laundry room, and three storage rooms. The tenant continues to invest in and carefully maintain the property, including the exterior and common areas.