Catylist Listing ID: 30512231
Property Subtypes: Low-Rise/Garden
Number of Units: 131 Units
Building Size (RSF): 103,358 SF
Gross Building Area: 101,358 SF
Gross Land Area: 4.35 Acres
Sale Price: $21,595,699
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
Cap Rate: 5.25%
Average Occupancy Rate: 95
Last Updated: 3/20/2020

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.

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: University
Taxing Authority: Bernalillo County - multiple properties
Tax ID/APN: 101705738540312501
Number of Stories: 3
Roof Type: Gable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,638 137,820 305,142
Median Age: 42.1 35.65 37.43
Households: 8,574 61,039 134,018

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