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:||$105,222.22 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:||10.73|
Overview / Comments
New Mexico Apartment Advisors Inc. is excited to bring to market the Austin Apartments, a 36 unit well located units in the NE heights of Albuquerque, NM at 2713 Wyoming NE.
Located walking distance to Sandia High School, a dozen restaurants and a short drive to over 2,000,000 square feet of retail in the Uptown area as well as Albuquerque’s 2nd largest central business district.
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 $3,788,000 and current average rent of $817/month are a GRM of 10.73, a 6.26% cap rate, $105,222 per unit, $138/sf, and a cash on cash return of 11.62% (interest only) or 7.72% on an amortizing loan. The after tax internal rate of return is 16.10%
And Value Add
If the remaining 14% of the units are renovated and all rents are raised to the market rent of $907, the Cap rate improves to 7.03% and the cash on cash to 10.26%.
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 and take advantage of a market that is experiencing booming job, rent and appreciation growth.
Todd Clarke CCIM CIPs
NM Apartment Advisors, Inc.
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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