North Vally Mixed USe

Multi-Family for Sale
Catylist Listing ID: 30490888
Property Subtypes: Mixed Use
Number of Units: 5 Units
Building Size (RSF): 5,080 SF
Gross Land Area: 0.45 Acres
Sale Price: $366,915
Unit Price: $73,383 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.8%
Average Occupancy Rate: 100
Last Updated: 12/12/2019

Overview / Comments

NM Apartment Advisors is very excited to bring to back market this five-unit family hacienda mixed use compound style property located in Albuquerque North Valley’s. Located at 834 Griegos NW, this property has a good walk (69), bike (71), and transit (32) scores.

According to the assessor records the property was built in 1924, with neighborhood rumor that portions of the building were an old tack house - the current owner has renovated one of the residential units and one of the commercial units has had the same tenant for 20+ years. Three of the units are residential and two are commercial.

Based on current increases the ask price of $366,915, and an average rent of $870, the measure of investment performance include a GRM of 7.03, a CAP rate of 7.80%, a price per unit of $73,383, a price per square foot of $72.23 a before tax IRR of 21.0% and an after tax IRR of 16.60%. If rents are raised to market average of $940, Cap rate improves to 8.60% and cash on cash to 12.00%.

Flyer, Property info and APOD at http://www.nmapartment.com/apt/NMAA-834GriegosNW.pdf

Attachments & Media

Financials

Finance Data Year 2018
Potential Rental Income $56,400 (Annual)
Gross Operating Income $49,590 (Annual)
Net Operating Income $27,519 (Annual)

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North Valley
Taxing Authority: Bernalillo
Tax ID/APN: 101406129002940115
Zoning: MX-T - Mixed-use: Transition
Number of Stories: 1
Year Built: 1924

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,122 98,557 319,810
Median Age: 40.45 38.46 36.56
Households: 5,388 42,073 134,990

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