Catylist ID: #30659293
New Triplex UNM/CNM area
Multi-Family for Sale
|Catylist Listing ID:||30659293|
|Number of Units:||3 Units|
|Building Size (RSF):||2,225 SF|
|Gross Land Area:||0.15 Acres|
|Unit Price:||$133,000 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||2,225 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||12.96|
Overview / Comments
NM Apartment Advisors is honored to list this newer construction apartment community located just east of UNM, north of Nob-Hill and within walking distance of the Sprouts supermarket and short hop to Los Cuates and its world famous sweet and hot salsa!
Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50’s. The property, located at 610 Jefferson NE, includes front hour and a rear duplex that was built in 2017.
A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates given how highly sought after the area is by many residents.
Measurements of investment performance based on actual average rents of $900 per unit, 5.21% CAP rate, 18.50% before tax IRR, and 14.90% after tax IRR.
Based on a market rent of $1,007 per unit the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.
The location has a high walk (78), Bike (83), and transit (40) score and speaks of its excellent location between UNM and Uptown.
Properties like this, in this area, have been moving fast – do not wait!
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||R-ML - Residential: Multi-family Low Density|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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