Fourhills Fourplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30471265
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,436 SF
Gross Land Area: 0.15 Acres
Sale Price: $299,500
Unit Price: $74,875 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.23%
Average Occupancy Rate: 100
Gross Rent Multiplier: 9.60
Last Updated: 9/22/2021

Overview / Comments

Did you know that the average fourplex sales price of $314,948 reflects an appreciation of 38% between 2020 to 2021? Or that 25% of the fourplex market is in product that sold for more than $400,000?

NM Apartment Advisors is excited to have listed this fabulous Fourplex near Four Hills at 304 Western Skies SE. This property is well located within walking distance to a movie theater, two grocery stores, and a dozen restaurants and on the major loop for Albuquerque’s mass transit.

Four by two bedroom one bathroom units with separate laundry rooms (in each apartment) and one of the units includes a fireplace.

At the ask price of $299,500 and an average rent of $650 the measure of investment performance include a GRM of 9.60, a CAP rate of 6.23% (before reserves), a price per unit of $74,875 a price per square foot of $87.17 an after tax IRR of 16.90%.

If rents were to be raised to market of $850, the measures of investment performance improve to a GRM of 7.34, and a cap rate of 9.14% (before reserves).

The 16 page property flyer with APOD, rents, expenses, floorplans, photos and more at http://www.nmapartment.com/apt/NMAA-Western304SE.pdf

Inspection reports from 2020 available to those buyers who complete the online confidentiality agreement at www.nmapartment.com/western304

Virtual tour of recently rented unit can be viewed at www.nmapartment.com/304western3d

Do not wait – fourplexes that prices are at a historic high and on a blazing path of appreciation due to the new Amazon, Netflix, Facebook and Intel employment announcements.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102205618831910537
Zoning: MX-L - Mixed-use: Low Intensity
Percent Occupied: 100%

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,905 89,289 199,443
Median Age: 34.46 37.81 38.65
Households: 8,009 37,269 87,751

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.