Catylist ID:
#30589397
Downtown Dozen in Sawmill District
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: | 30589397 |
| Property Subtypes: | Low-Rise/Garden |
| Status: | Pending |
| Number of Units: | 12 Units |
| Building Size (RSF): | 6,512 SF |
| Sale Price: | $722,500 |
| Unit Price: | $60,208.33 Per Unit |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Usable Size (USF): | 6,512 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 6.12% |
| Average Occupancy Rate: | 100 |
| Gross Rent Multiplier: | 9.65 |
| Last Updated: | 2/15/2021 |
Overview / Comments
|
NM Apartment Advisors is very excited to bring to market twelve-plex at 810 Bellamah NW, located in Downtown Albuquerque, this property has a high walk (56), bike (80), and transit (42) scores. Embedded in the historic Sawmill District, the property’s is walking distance Albuquerque’s museum corridor, Tiguex Park and Old town and biking distance to the central business district. At the ask price of $722,500 and an average rent of $520, the measure of investment performance include a GRM of 9.65, a CAP rate of 6.12%, a price per unit of $60,208 a price per square foot of $110.95 a before tax IRR of 16.60% and an after tax IRR of 13.50%. If rents were raised to market of $610, the measure of investment performance improve to a cap rate of 7.22%. These townhouse style units are all one bedroom and one bathroom. In 2019, virtually every downtown/old town investment property flew off the shelves (33 deals totaling 185 units at an average price of $81,180/unit) – do not wait for this one to sell as well. |
Attachments & Media
Additional Details
| Nearest MSA: | Albuquerque |
| County: | Bernalillo |
| Submarket/Township: | Downtown |
| Taxing Authority: | Bernalillo County |
| Tax ID/APN: | 101405805247022409 |
| Percent Occupied: | 100% |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Year Built: | 1978 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 12,012 | 118,826 | 304,950 |
| Median Age: | 37.24 | 35.33 | 35.16 |
| Households: | 5,347 | 49,274 | 123,535 |
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