Catylist ID:
#30654621
| Catylist Listing ID: | 30654621 |
| Property Subtypes: | Duplex/Fourplex |
| Number of Units: | 6 Units |
| Building Size (RSF): | 4,978 SF |
| Gross Land Area: | 0.49 Acres |
| Sale Price: | $845,050 |
| Unit Price: | $140,841.67 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Madison Triplexes |
| Usable Size (USF): | 4,978 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 5.28% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 9/30/2020 |
Overview / Comments
|
On behalf of the owner, NM Apartment Advisors is excited to bring to market this well located six-plex in the popular Nob Hill neighborhood. The property consists of two triplexes on separate lots. With high walk scores this is the perfect property for an investor or owner occupant. Located on the northeast corner of Copper and Madison at 200-4 Madison NE, the property is lined with majestic trees, lush landscaping and garages. Each unit is its own front porch and/or backyard areas giving the residences the sense of being small patio homes. The property also offers a total of 7 garages with rear alley access. A core asset with an established rental history, the property is also a value-add opportunity with the current rents some 7% below market. At the start price of $853,050 and an average rent of $968 the measure of investment performance include a GRM of 12.88, a CAP rate of 5.28%, a price per unit of $142,175, a price per square foot of $171.36 and an after-tax IRR of 14.40%. If rents are raised to the market average of $1,033, measures of investment performance improve to a GRM of 11.47, a Cap rate of 6.03% and a cash on cash of 7.25%. The owner is open to selling the triplexes separately, so long as we can manage a closing on each that is close to the other. 22 page Flyer at http://www.nmapartment.com/apt/NMAA-Madison204NE.pdf Virtual tour at www.nmapartment.com/200madi3d |
Attachments & Media
Additional Details
| Nearest MSA: | Albuquerque |
| County: | Bernalillo |
| Submarket/Township: | University |
| Taxing Authority: | Bernalillo County |
| Tax ID/APN: | 101705738127110418 |
| Zoning: | MX-T - Mixed-use: Transition |
| Total Number of Buildings: | 5 |
| Property Condition: | Good |
| Number of Stories: | 1 |
| Year Built: | 1951 |
| Roof Type: | Flat |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 18,519 | 127,208 | 298,804 |
| Median Age: | 41.45 | 35.68 | 37.3 |
| Households: | 9,473 | 56,699 | 131,238 |
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