Madison side by side triplexes

Multi-Family for Sale
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

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

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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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