Catylist ID: #30007968
Multi-Family for Sale
|Catylist Listing ID:||30007968|
|Number of Units:||4 Units|
|Building Size (RSF):||3,099 SF|
|Gross Land Area:||0.16 Acres|
|Unit Price:||$138,876.25 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,099 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||11.66|
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
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
Attachments & Media
|Zoning:||SU-1 - Special Use Zone|
|Property Located Between:||Downtown and Oldtown|
|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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