Rare RR investment 4plex for sale–prepackaged ready to close

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30630149
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,120 SF
Gross Land Area: 0.55 Acres
Sale Price: $260,000
Unit Price: $65,000 Per Unit
Property Use Type: Investment
Building Name: 650 Vancouver SE
Usable Size (USF): 3,120 SF
Sale Terms: Cash to Seller
Cap Rate: 7.35%
Average Occupancy Rate: 100
Gross Rent Multiplier: 7.13
Last Updated: 7/31/2020

Overview / Comments

Property under best and final round

Please note change of dates for the call and offer deadline below.

New to the market and an amazingly rare find – a fourplex investment for sale in Rio Rancho – located at 650 Vancouver SE and priced well below market comparable sales and ready to move!

This property is packaged for a fast, smooth and easy transaction – the flyer contains rent roll summary, APOD, 5 year internal rate of return projection, comparable sales, property management info, inspection summary, financing quote, photos, floorplans, and update on the impact of the Corona-Virus on the apartment investment marketplace.

Timeline:
Register for the confidential information and hold your seat for the Zoom meeting – deadline to register at www.nmapartment.com/vanc650 is 10am on Tuesday, July 28th,
Attend the zoom meeting at noon on Tuesday, July 28th, and learn about the property from the property manager, market overview from the listing brokers, and financing update.
Tour the property online
Review the inspections
Review the financials
Learn the latest from capital markets
Make an offer – offer deadline is noon Thursday, July 30th, 2020.

Starting Ask Price is $260,000, with an average rent of $760, measures of investment performance include a GRM of 7.13, a before reserves cap rate of 7.35% and an after-tax Internal Rate of Return (IRR) of 17.20%. If rents are raised to the market average of $870, measure of investment performance improve to a cap rate of 8.86% and a cash on cash of 17.01%.

The market comparable sales indicate a value of $274,952.

Invest in a higher barrier to market - Rio Ranch is in dire need of 4,000+ more additional apartment units.

Each of these two-bedroom, one-bathroom units includes washer/dryer hookups, private backyards and parking spaces.

28 page flyer can be found at http://www.nmapartment.com/apt/NMAA-vanc650RR.pdf

Virtual tours of the units at:
Unit E – http://www.nmapartment.com/vance3d
Unit F – http://www.nmapartment.com/vancf3d
Unit G – http://www.nmapartment.com/vancg3d
Unit H – http://www.nmapartment.com/vancg3d

Rio Rancho fourplex investments are hard to find – do not wait on this one!

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Sandoval
Submarket/Township: Rio Rancho
Taxing Authority: Sandoval County
Tax ID/APN: R024996
Number of Stories: 1
Year Built: 1998

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,357 44,664 115,554
Median Age: 34.37 33.11 34.94
Households: 1,979 15,498 42,546

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