Amazing owner occupant triplex

Multi-Family for Sale
Catylist Listing ID: 30741705
Property Subtypes: Duplex/Fourplex
Number of Units: 3 Units
Building Size (RSF): 2,510 SF
Gross Land Area: 0.14 Acres
Sale Price: $346,027
Unit Price: $115,342.33 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,510 SF
Sale Terms: Cash to Seller
Cap Rate: 5.29%
Average Occupancy Rate: 100
Last Updated: 7/29/2021

Overview / Comments

On behalf of the owner, NM Apartment Advisors is excited to bring to market an amazing owner occupant style, recently renovated high end apartment residence.

New flooring, colors that pop, new cabinets, a farm sink that is embedded in new corian counter tops, USB charging ports, a drop center (for your purse, wallet, keys, backpack, etc.), washer/dryer hookups, private synthetic grass covered back yard, storage space and update finishes throughout this amazing apartment. Please view the virtual tour at www.nmapartment.com/1117louis3d . This unit is vacant on lockbox and can be showed in person.

The major amenity in this area is to be located across the street from the entrance of NM Veteran’s Park with its walking trails, reflective areas, out door amphitheater and rose gardens. The property is located just north of the Gibson entrance to Kirtland Air Force Base and Sandia National laboratories.

The property ask price of $346,027 is $115,342 per unit, $139.98 per square foot, a before reserves cap rates of 5.29%, a 5.22% cash on cash and an after tax IRR of 17.40%.

Average rents are $752, with the owner occupant unit available for $1,000. If all three units are raised to market – the measure of investment performance improve to a cap rate of 7.36% and a cash on cash of 13.49%.

19 page flyer at http://www.nmapartment.com/apt/NMAA-Louis1117SE.pdf

This totally cool, retro style triplex is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appreciation and rent growth.

Do not wait, an owner occupant unit with high end finishes comes along very rarely!

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

PS: Are you hungry to get more information on this booming apartment market as well as exchange information on new listings? RSVP for our in person (or zoom) apartment broker luncheon on July 1st, 2021 – seating is limited and lunch is free - RSVP at www.nmapartment.com/aptlunch

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 101805651404340815
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 1
Year Built: 1978

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,769 107,239 241,224
Median Age: 33.01 35.35 37.11
Households: 7,627 46,472 104,988

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