Catylist ID: #30512231
Multi-Family for Sale
|Catylist Listing ID:||30512231|
|Number of Units:||131 Units|
|Building Size (RSF):||103,358 SF|
|Gross Building Area:||101,358 SF|
|Gross Land Area:||4.35 Acres|
|Unit Price:||$164,852.66 Per Unit|
|Property Use Type:||Investment|
|Building Name:||The Q-Portfolio|
|Usable Size (USF):||103,358 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||95|
Overview / Comments
NM Apartment Advisors is honored to bring to market the Q: A best in class brand of millennial preferred apartment communities located in Albuquerque, NM.
The 138 page offering memorandum is available to qualified parties – simply
register for additional info on the Q-Portfolio by completing the on-line confidentially agreement at www.nmapartment.com/theQ
The Q's expandable portfolio of 131 apartment residences in 3 campuses all located in Albuquerque's millennial corridor features a quality, vibrant living environment for those who want to Live Different. Care and attention to detail is what the Q experience is all about. The residents at the Q enjoy the same level of professional customer service and amenities you may expect at a national chain of apartment communities, but with a distinct personal touch and character.
This is a core asset with stabilized cash flow, incredible renovations, an amazing architectural aesthetic and focus on top notch design.
Measures of investment performance at a price of $21,595,699 and current average rent of $1,097 are a GRM of 12.52, a 5.37% cap rate (before reserve, 5.25% after), $164,853 per unit, $213/sf, and an after tax IRR of 14.60%. If rents are raised to market of $1,349 per unit - measure of investment performance improve to GRM of 10.18, 7.07% cap rate, and a cash on cash of 10.25%.
The summary flyer can be downloaded here - www.nmapartment.com/apt/Q.pdf
The portfolio includes 131 units in three sub-market at four separate addresses including:
- Q@Nob Hill - 4805 Marquette NE and 424 Jefferson NE - 77 apartments
- Q@Vassar North - 1920 Vassar NE - 32 apartments
- Q@Uptown - 7801 Marble NE - 22 townhouse style units
The portfolio includes in place management and state of the art property systems overseen by TEAM ABQ management – portfolio website can be found at - theqdifference.com
Please do not visit the property and disturb residents, but visit our virtual tours at
Q @ Nob Hill - www.nmapartment.com/Q3dnh1 and www.nmapartment.com/Q3dnh2
Q @ Vassar North - www.nmapartment.com/Q3dvn1 and www.nmapartment.com/Q3dvn2
Q @ Uptown - www.nmapartment.com/Q3dup1
or contact the listing broker for a guided market/property tour.
Don't miss out on this once in a generation opportunity to own one of the nicest apartments in New Mexico.
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
Attachments & Media
|Taxing Authority:||Bernalillo County - multiple properties|
|Number of Stories:||3|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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