Route 66 apartments - now with Seller Financing

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30000076
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 11 Units
Building Size (RSF): 4,165 SF
Gross Land Area: 0.28 Acres
Sale Price: $195,000
Unit Price: $17,727.27 Per Unit
Property Use Type: Investment
Usable Size (USF): 4,165 SF
Sale Terms: Cash to Seller
Cap Rate: 11.9%
Average Occupancy Rate: 100
Last Updated: 7/12/2017

Overview / Comments

Own a piece of Route 66 history - located on future ART corridor and just west of the Rio Grande River, here is your chance to celebrate 2 of the 3 Rs in Albuquerque - (routes, rivers and rails).

Handy man special - needs some work - register for confidential info and I can send you copies of inspection reports and leases.

Don't miss out on this rare opportunity to find a high rate of return deal. Asking price is 11.9% CAP rate before reserves, 10.00% cash on cash, 16.60% before tax iRR and 12.10 after tax IRR.

The current owner is open to seller financing, to a qualified investor with 25% down payment, 7% interest, 15 year amortization and 42 month call.

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $2,769 (Annual)
Assessed Value - Total($) $194,800 (Annual)
Potential Rental Income $72,720 (Annual)
Net Operating Income $20,589 (Annual)
Gross Operating Income $53,460 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: South Valley
Taxing Authority: Bernalillo County
Tax ID/APN: 101105712928532529
Zoning: C-2 - Community Commercial Zone
Percent Occupied: 100%
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 1950
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,525 134,420 223,515
Median Age: 32.66 32.2 32.84
Households: 6,317 47,433 81,717

Contact

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