Catylist ID: #30741705
Amazing owner occupant triplex
Multi-Family for Sale
|Catylist Listing ID:||30741705|
|Number of Units:||3 Units|
|Building Size (RSF):||2,510 SF|
|Gross Land Area:||0.14 Acres|
|Unit Price:||$98,333.33 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||2,510 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
This recently renovated triplex has a stunning unit (B) with new flooring, colors that pop, new cabinets, a farm sink that is embedded in new quartz 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 owner has adjusted the expenses, adding in a management fee, and made the price attractive to an investor – with a new price of $295,000 (from the owner occupant price of $346,027). At the new price, and the current average rent of $768, the measures of investment performance include GRM of 11.23, cap rate before reserves of 5.43%, cap rate after reserves of 5.20% and an after tax IRR of 15.90%. If rents are moved to the market rate of $1,000, the measure of investment performance improve to a cap rate of 7.55% and a cash on cash of 14.09%.
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.
21 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!
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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