Multifamily Investment 5 Plex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30647705
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 5 Units
Building Size (RSF): 2,112 SF
Gross Land Area: 0.19 Acres
Sale Price: $625,000
Unit Price: $125,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,112 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.27%
Gross Rent Multiplier: 10.80
Last Updated: 11/10/2020

Overview / Comments

Tired of stock market whiplash? Try investing in stable real estate. This is a five plex on Saint Francis Drive near downtown Santa Fe consisting of 4 one-bedroom apartments and 1 studio apartment with 11 parking spaces. Built in 1982 frame/stucco construction. New roof installed in fall 2019 with a 5 year warranty. Fully leased investment property. Annual income is $57,540 including rent and utilities. Projected 2020 expenses are $12,112. Measures of investment performance are net operating income of $45,427, cap rate of 7.27% and gross rent multiplier of 10.8. Flexible C-4 zoning allows for professional offices, multifamily residential and short term rentals.

Additional Details

Nearest MSA: Santa Fe
County: Santa Fe
Tax ID/APN: 1053099329199000000
Zoning: C-4 ALLOWS RESIDENTIAL AND SHORT TERM RENTALS
Number of Stories: 2
Year Built: 1982
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: 10 normal spaces and 1 ADA space
Total Parking Spaces: 11
Laundry: Laundromat Nearby
Heat Type: Natural Gas
Heat Source: Wall Units
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Cable
Zoning Description: C-4 zoning allows for professional office, residential, multifamily and short term rentals
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,246 44,246 67,884
Median Age: 49.32 47.84 44.51
Households: 5,218 22,195 31,800

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