Catylist ID: #30630149
Rare RR investment 4plex for sale–prepackaged ready to close
Multi-Family for Sale
|Catylist Listing ID:||30630149|
|Number of Units:||4 Units|
|Building Size (RSF):||3,120 SF|
|Gross Land Area:||0.55 Acres|
|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|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||7.13|
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.
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
|Taxing Authority:||Sandoval County|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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