Catylist ID: #30724596
El Encanto Fourplex
Multi-Family for Sale
|Catylist Listing ID:||30724596|
|Number of Units:||4 Units|
|Building Size (RSF):||1,925 SF|
|Unit Price:||$70,474 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||1,925 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||9.93|
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
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.
Attachments & Media
|Zoning:||R-MH - Residential: Multi-family High Density|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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