El Encanto Fourplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30724596
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 1,925 SF
Sale Price: $281,896
Unit Price: $70,474 Per Unit
Property Use Type: Investment
Usable Size (USF): 1,925 SF
Sale Terms: Cash to Seller
Cap Rate: 5.66%
Average Occupancy Rate: 100
Gross Rent Multiplier: 9.93
Last Updated: 5/1/2021

Overview / Comments

On behalf of the owners, NM Apartment Advisors is excited to bring this opportunity to purchase this fourplex in the Albuquerque Highlands/Uptown area.

Offered for sale for the first time in almost 40 years, this charming fourplex is embedded in an area of mostly single-family homes. The property has (1) 2 bedroom, one bath apartment home that has hardwood floors, and two one bedroom one bath residences that have carpet/vinyl/tile floor coverings and Unit D has laminate flooring.

This amazing location combined with a low maintenance nice asphalt parking lot, make these apartment homes easy to lease. There is a large basement under the main house making it easy to access mechanical services.

The area is surrounded by several city parks and is in close proximity to the freeway, a short bike ride to Nob-Hill dining, the UNM area or the Uptown Shopping/ABQ Uptown/Winrock/Coronado Mall and the Uptown Central Business district and so much more!

21 page flyer at http://www.nmapartment.com/apt/NMAA-ElEnca5305NE.pdf

Measures of investment performance at ask price of $281,896 with a current average rent of $591 are a GRM of 9.93, a 5.98% cap rate before reserves, 5.66% cap rate after reserves, 16.00% after tax IRR, $70,474 per unit, and a price per sf of $146.44.

Virtual tour of Unit A at http://www.nmapartment.com/elen3d

Timelines:
Register for the confidential documents and property tour at http://www.nmapartment.com/elencanto
Attend the property tour at noon on Tuesday, April 27th, 2021 at 4:30 pm (no other showing times are available)
Offer deadline at 4pm on Thursday, April 29th, 2021.

Do not wait – this is a once in a generation opportunity own an attractive NE Heights fourplex surrounded by single family homes.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Tax ID/APN: 101805801325033202
Zoning: R-MH - Residential: Multi-family High Density
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 1
Year Built: 1950

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,685 149,417 332,597
Median Age: 40.59 36.33 37.74
Households: 8,811 66,817 146,179

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