Catylist ID: #30614171
Multi-Family for Sale
|Catylist Listing ID:||30614171|
|Number of Units:||36 Units|
|Building Size (RSF):||26,322 SF|
|Gross Land Area:||1.06 Acres|
|Unit Price:||$102,718.89 Per Unit|
|Property Use Type:||Investment|
|Building Name:||The Austin|
|Usable Size (USF):||26,322 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||11.50|
Overview / Comments
New Mexico Apartment Advisors is honored to bring to market the Austin Apartments, 36 well located units in the NE heights of Albuquerque, NM at 2713 Wyoming NE.
Located walking distance to Sandia High School, and a short drive to all the retail experiences that Uptown offers.
This is a core asset with stabilized cash flow, attractive renovations, with a solid platform provided for the next owner to enhance their income position.
Measures of investment performance at a price of $3,697,880 and current average rent of $744/month are a GRM of 11.50, a 5.75% cap rate, $102,719 per unit, $141/sf, and a cash on cash return of 10.26%. The after tax internal rate of return is 14.10%
And Value Add
If the remaining 25% of the units are renovated, the potential annual rent for the coming year increases by $10,980 which at a 5.75% cap rate adds $190,956 in value. If all rents are raised to the property’s market rate, the Cap rate improves to 6.20% and the cash on cash to 11.85%.
Please do not visit the property or disturb residents, but visit our Virtual Tours at
Qualified buyers can access the confidential documents by completing the online confidentiality agreement at www.nmapartment.com/theaustin .
Brokers, please make sure your buyer identifies you as their broker.
2% buyers broker fee is part of this fabulous offering. Do not miss out on this rare opportunity to own one of the nicest apartments in the north east heights.
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||MX-L - Mixed-use: Low Intensity|
|Total Number of Buildings:||6|
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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