Catylist ID: #30642719
The Sequel - As seen on TV – Own a piece of ABQ TV history
Multi-Family for Sale
|Catylist Listing ID:||30642719|
|Number of Units:||4 Units|
|Building Size (RSF):||3,192 SF|
|Gross Land Area:||0.16 Acres|
|Unit Price:||$71,250 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,192 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||8.36|
Overview / Comments
After a BID process, and a best and final round that pushed the price up quite bit – the top buyer did not come through.
We are now back on the market and its your chance - own a piece of NM history – as filmed on the Better Call Saul (Season 5, episodes 1-2) – this fourplex was featured as a backdrop to both episodes.
Amazingly rare find – a valued add fourplex in Albuquerque’s northeast heights.
Nestled in a community of family friendly fourplexes, this 2 bedroom, 1 bathroom + w/d hookups fourplex has all 4 units occupied.
This property is packaged for a fast, smooth and easy transaction – the flyer contains rent roll summary, APOD, 5 year internal rate of return projection, comparable sales, property management info, inspection summary, financing quote, photos, floorplans, and update on the impact of the Corona-Virus on the apartment investment marketplace.
List price is $285,000, with an average rent of $710, measures of investment performance include a GRM of 8.36, a before reserves cap rate of 6.90% and an after-tax Internal Rate of Return (IRR) of 18.70%. If rents are raised to the market average of $788, measure of investment performance improve to a cap rate of 7.90% and a cash on cash of 14.00%.
The market comparable sales indicate a value of $303,464.
The 22 page flyer can be found at http://www.nmapartment.com/apt/NMAA-Ventura11109NE.pdf
Core properties with a value-add component like this property in the NE heights fourplexes are hard to find – do not wait on this one!
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||MX-M - Mixed-use: Moderate Intensity|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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