Los Lunas SFR portfolio

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 29726607
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 15 Units
Building Size (RSF): 18,150 SF
Sale Price: $1,485,000
Unit Price: $99,000 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 8/30/2018

Overview / Comments

Rare opportunity to buy from original owner – 15 single family residences in growing submarket of Albuquerque – 7.2% CAP rate

Built in the 1990s - each with three bedrooms, two bathrooms and a two car garage is available for sale as a portfolio of rental units with management team in place.

Located in two subdivisions of Los Lunas, NM and contained with Valencia County, which is forecast to grow by 107% in next 20 years.
In market property manager just negotiated a 20% reduction on property taxes – proforma CAP rate at 8.60%, cash on cash 15.7% at ask price is $1.584M.

Current average rents $914, proforma rents at $1,016 or 11% increase over existing level. Lender quote for financing is available.

Flyer at http://www.nmapartment.com/apt/NMAA-LosLunasPortfolio.pdf
Register for confidential documents and tour at www.nmapartment.com/LL
Todd Clarke CCIM

Additional Details

Nearest MSA: Albuquerque
County: Valencia
Taxing Authority: Valencia
Percent Occupied: 100%
Market Type: Rural
Total Number of Buildings: 16
Property Condition: Good
Number of Stories: 2
Year Built: 1997
Roof Type: Gable
Construction/Siding: Wood Frame

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,764 14,725 32,773
Median Age: 35.68 36.31 40
Households: 2,548 5,048 11,959


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