The Sequel - As seen on TV – Own a piece of ABQ TV history

Multi-Family for Sale
Catylist Listing ID: 30642719
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,192 SF
Gross Land Area: 0.16 Acres
Sale Price: $285,000
Unit Price: $71,250 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,192 SF
Sale Terms: Cash to Seller
Cap Rate: 6.9%
Average Occupancy Rate: 100
Gross Rent Multiplier: 8.36
Last Updated: 9/14/2020

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!

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102105729306640129
Zoning: MX-M - Mixed-use: Moderate Intensity

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,494 119,135 237,641
Median Age: 36.05 37.5 38.59
Households: 7,482 50,281 105,407

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