Downtown Dream

Multi-Family for Sale
Catylist Listing ID: 30007968
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,099 SF
Gross Land Area: 0.16 Acres
Sale Price: $525,000
Unit Price: $131,250 Per Unit
Property Use Type: Investment
Building Name: SamsPlex
Usable Size (USF): 3,099 SF
Sale Terms: Cash to Seller
Cap Rate: 5.25%
Average Occupancy Rate: 100
Gross Rent Multiplier: 11.66
Last Updated: 8/21/2019

Overview / Comments

High end fourplex and downtown millennial dream - Renovated top to bottom - owner has made amazing changes to the property that must be seen to appreciate. New kitchens, new bathrooms, new flooring, new HVAC, new tankless water heaters, new finishes, private courtyard, stackable washer/dyers and a walk score of 83, transit score of 48, and bike score of 89!

Recent changes in price reflect increases in income and overall market values, and vocational rental potential.

Measures of investment performance include: 11.66 GRM, 5.25% Cap rate, before tax IRR of 14.20%, after tax IRR of 11.10%

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo
Tax ID/APN: 101305832514242314
Zoning: SU-1 - Special Use Zone
Percent Occupied: 100%
Property Located Between: Downtown and Oldtown
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1959
Roof Type: Flat

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,607 114,671 293,263
Median Age: 39.71 34.4 34.19
Households: 5,689 46,293 115,861


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