Historic Downtown Triplex Next to Mary Fox Park – The Stamm House

Multi-Family for Sale
Catylist Listing ID: 30472174
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 3 Units
Building Size (RSF): 2,028 SF
Gross Land Area: 0.11 Acres
Sale Price: $365,000
Unit Price: $121,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 323 13th-1300 Roma
Usable Size (USF): 2,028 SF
Sale Terms: Cash to Seller
Cap Rate: 4.73%
Average Occupancy Rate: 100
Last Updated: 9/14/2020

Overview / Comments

NM Apartment Advisors and Deacon Property Services LLC is excited to bring this extremely well-located historic triplex to market.

This Corner lot property is just blocks to the heart of Downtown and Old Town, ideally situated in the highly desirable 4th Ward - one of Albuquerque's true historic treasure neighborhoods. Across the street from Mary Fox Park and walking distance to groceries, great restaurants, breweries, and entertainment. Walk Score is 82. Bike Score is 88. 3 unique, character-driven units marry classic touches and finishes with all the right modern updates. Bonus amenities include: fireplaces, washer / dryers, dishwashers, updated kitchens, and bonus storage options. Lots of upside and value add options with further improvements or fantastic potential for executive /Air BnB rentals (A+ rating on Air DNA), or owner occupant options.

Measures of investment performance at ask price of $365,000 and the average rents of $762 the property offers a 13.95 GRM, 4.73% cap rate. If rents are raised to market average of $838, measure of investment performance improve to 12.09 GRM, and 5.38% cap rate.

38 page flyer at: www.nmapartment.com/NMAA-323-13th-NW.pdf

Virtual tours of the interiors can be found at:
323 13th Unit A: www.nmapartment.com/323A3D
323 13th Unit B: www.nmapartment.com/323B3D
1300 Roma: www.nmapartment.com/1300roma3d

Don’t wait - this property will likely go to an owner occupant quickly!

Financials

Finance Data Year 2019
Potential Rental Income $30,180 (Annual)
Gross Operating Income $26,174 (Annual)
Net Operating Income $16,595 (Annual)

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101305838710541808
Site Description: Have 7 multi/single family units - Dixon portfolio Tax credits available ZAP: J/13
Number of Stories: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,607 109,634 290,820
Median Age: 39.71 34.4 34.35
Households: 5,689 44,559 115,382
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