Catylist ID: #30767090
5 units + large home – 6.78% cap rate next to iconic building
Multi-Family for Sale
|Catylist Listing ID:||30767090|
|Number of Units:||6 Units|
|Building Size (RSF):||4,287 SF|
|Gross Land Area:||0.33 Acres|
|Unit Price:||$70,833.33 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||4,287 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||9.09|
Overview / Comments
On behalf of the owner, NM Apartment Advisors and T & C Management are excited to bring to market this unique family style compound with 5 rental units and a 1,530 square foot single family home.
Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.
At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.
If rents were to be raised to market of $729, the measures of investment performance improve to a GRM of 8.10, and a cap rate of 7.76% (before reserves).
The 16 page property flyer with APOD, rents, expenses, photos and more at http://www.nmapartment.com/apt/NMAA-Arizona321SE.pdf
Full inspections have been performed and are available to qualified investors who complete the online confidentially agreement at www.nmapartment.com/arizona
Do not wait – apartment investments are undergoing phenomenal appreciation and are on blazing path of rent growth due to the new Amazon, Netflix, Facebook and Intel employment announcements.
Todd Clarke CCIM, CIPs
NM Apartment Advisors Inc.
Chuck Sheldon CCIM, CPM
PS: are you tracking the housing market and the double digit single family home appreciation as well as the forthcoming double digit rent growth? We have been and are glad to share at our Forecast 2021 – www.nmapartment.com/zoomforecast2021
Attachments & Media
|Zoning:||NR-C - Non-residential: Commercial|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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