Downtown Dream

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30007968
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,099 SF
Gross Land Area: 0.16 Acres
Sale Price: $555,505
Unit Price: $138,876.25 Per Unit
Property Use Type: Investment
Building Name: SamsPlex
Usable Size (USF): 3,099 SF
Sale Terms: Cash to Seller
Cap Rate: 6.01%
Average Occupancy Rate: 100
Gross Rent Multiplier: 11.66
Last Updated: 9/14/2020

Overview / Comments

Rents and property appreciation are on the rise – as evidenced by this completed remodeled fourplex – just steps away from Durans, Vinagerette, and all that the WeDo neighborhood has to offer.

The property’s is walking distance to both the downtown central business district, old town and a couple dozen brew pubs, and specialty coffee shows. (Think of it as the epicenter for the three B’s – bikes, brews, and beer).

NM Apartment Advisors is excited to have listed this wonderful owner occupant style fourplex located between Downtown and Old Town Albuquerque with a high walk (84), bike (83), and transit (47) scores. (Did you know? Market trends demonstrate that high walk, bike or transit scores translates to 25% higher rents).

Located at 317 15th NW, and now offered at $555,500, with an average rent of $1,095 the measure of investment performance include a GRM of 10.57, a CAP rate of 6.01%, a price per unit of $138,876, a price per square foot of $179 and an after tax IRR of 15.00%.

Two of the units are rented at $995 and two at $1,195 – if all were raised to the market of $1,195, the measure of investment performance improve to a cap rate of 6.49%.

Clients and their brokers can view the online virtual tours at
Unit B – www.nmapartment.com/15thnwb3d
or
Unit C - www.nmapartment.com/15thnwc3d

20 page property flyer with APOD, rents, expenses, floorplans, photos and more at http://www.nmapartment.com/apt/NMAA-317-15thNW.pdf

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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