Catylist ID:
#30769256
Recently renovated 7-unit compound with 7.03% proforma cap rate
Multi-Family
for Sale
| Catylist Listing ID: | 30769256 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 7 Units |
| Building Size (RSF): | 5,220 SF |
| Gross Land Area: | 0.26 Acres |
| Sale Price: | $708,022 |
| Unit Price: | $101,146 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 11/1/2021 |
Overview / Comments
|
On behalf of the owner, NM Apartment Advisors and Deacon Property Services is excited to bring to market this compound setting recently renovated seven-unit community. The owner has made major improvements to the property and with the assistance of the management company repositioned it for the next investors to take advantage of upcoming rent increases and utility billback. The property contains a fourplex and triplex building. The triplex building contains a 2nd level residence – that is an incredible large and elegant single family residence of 1,300 sf. Gleaming hardwood floors, new mini-split HVAC systems, upgraded windows, and overhaul of the landscaping is just a small indication of the over $121,000 of work this owner has performed. The property is located just west of the Gibson entrance and northeast of the Truman gate to Kirtland Air Force Base and Sandia National laboratories and in area of amazing employment growth. With an average rent of $816, and at the list price of $708,022 the measures of investment performance include $101,146 per unit, $135.64 per square foot, a before reserves cap rates of 5.99%, and an after tax IRR of 18.00%. If rents are moved to market of $914, measure of investment performance improve to a cap rate of 7.03% and a cash on cash of 8.71% The 28 page flyer at http://www.nmapartment.com/apt/NMAA-1340SanMateoSE.pdf Do not miss out on this rare opportunity to own a high-quality investment asset in an area surrounded by new employment and development opportunities. Thanks, Todd Clarke CCIM CIPs CEO NM Apartment Advisors Inc. (505) 440-TODD and Kyle Deacon Deacon Property Services (505) 878-0100 kdeacon24@swcp.com |
Attachments & Media
Additional Details
| Nearest MSA: | Albuquerque |
| County: | Bernalillo |
| Submarket/Township: | Southeast |
| Taxing Authority: | Bernalillo County |
| Tax ID/APN: | 101805601108330822 |
| Percent Occupied: | 100% |
| Total Number of Buildings: | 2 |
| Property Condition: | Excellent |
| Number of Stories: | 2 |
| Year Built: | 1957 |
| Year Renovated: | 2021 |
| Roof Type: | Gable |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,411 | 99,167 | 250,686 |
| Median Age: | 37.77 | 34.73 | 36.57 |
| Households: | 7,315 | 44,095 | 108,684 |
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