Catylist ID: #30745515
10.52% proforma cap rate
Multi-Family for Sale
|Catylist Listing ID:||30745515|
|Number of Units:||20 Units|
|Building Size (RSF):||15,000 SF|
|Gross Land Area:||1.01 Acres|
|Unit Price:||$67,450 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||15,000 SF|
|Sale Terms:||Cash to Seller|
|Gross Rent Multiplier:||9.17|
Overview / Comments
On behalf of the owner, NM Apartment Advisors and Excalibur Realty and Investments are excited to bring to the market this opportunity to acquire a 20-unit apartment building in Belen, NM. Located at 815 Picard, the property is within walking distance of the central business district, Walgreens, McDonald's, and a dozen different employment opportunities.
New Mexico's 30,000 available and affordable home shortage coupled with the arrival of Netflix, Facebook, Intel, and Amazon is driving double digit growth in single-family home prices and rent increases, making
these 20-units an excellent investment opportunity.
26 page flyer at http://www.nmapartment.com/apt/NMAA-Picard815BL.pdf
Full inspection reports for the property are available to those who complete the online confidentially agreement at www.nmapartment.com/picard
Amazing financing available from the Ventana Fund (disclosure, Listing broker volunteers on the board of directors) possible 80% loan to value for the acquisition and 80% of the renovation costs at below market interest rates.
Measure of investment performance at the current rent of $613 include a GRM of 9.17, before reserves cap rate of 6.85%, and after tax IRR of 11.30%. If rents are raised to market average of $875, measure of investment performance improve to proforma cap rate of 10.52%, and an amazing cash on cash of 21.74%.
A value-add investor who commits to modest renovations and good management can reposition the property and potentially realize 20% upside.
Do not miss out on this rare opportunity to own a Belen apartment asset.
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
Michael J Skolnick
Excalibur Realty and Investments Inc
PS: Learn from industry experts why ABQ is undergoing double digit rent and value growth by reviewing the NMAA 2012 Forecast at http://www.nmapartment.com/zoomforecast2021
Attachments & Media
|Taxing Authority:||Valencia County|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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