Downtown Six units

Multi-Family for Sale
Catylist Listing ID: 30352696
Property Subtypes: Low-Rise/Garden
Number of Units: 6 Units
Building Size (RSF): 3,477 SF
Gross Land Area: 0.17 Acres
Sale Price: $584,000
Unit Price: $97,333.33 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Downtown Six
Usable Size (USF): 3,477 SF
Sale Terms: Cash to Seller
Cap Rate: 5.25%
Average Occupancy Rate: 100
Gross Rent Multiplier: 12.31
Last Updated: 7/2/2019

Overview / Comments

NM Apartment Advisors is very excited to bring to market this six plex with garages is located in between Downtown Albuquerque and the Country Area at 311 12th SW, this property has a high walk (79), bike (83), and transit (50) scores.

The property’s is walking distance to the central business district, the Country Club Area, and Old Town Albuquerque.

At the ask price of $584,000 and an average rent of $659, the measure of investment performance include a GRM of 12.31, a CAP rate of 5.25%, a price per unit of $97,333, a price per square foot of $167.96 and a before tax IRR of 14.90%.

If rents were raised to market of $778, the measure of investment performance improve to a cap rate of 6.47%.

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Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo
Tax ID/APN: 101305739741412904
Zoning: SU-2 - Special Neighborhood Zone
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1916

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,334 113,545 300,481
Median Age: 39.3 34.66 34.5
Households: 5,976 46,434 119,955

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