Fourhills Fourplex

Multi-Family for Sale
Catylist Listing ID: 30471265
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,436 SF
Gross Land Area: 0.15 Acres
Sale Price: $245,000
Unit Price: $61,250 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 100
Gross Rent Multiplier: 8.75
Last Updated: 9/14/2020

Overview / Comments

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 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 $245,000 and an average rent of $600 the measure of investment performance include a GRM of 8.51, a CAP rate of 6.90% (before reserves), a price per unit of $61,250 a price per square foot of $71.30 an after tax IRR of 17.80%.

If rents were to be raised to market of $686, the measures of investment performance improve to a GRM of 7.44, and a cap rate of 8.20% (before reserves).

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

Email listing broker for information on inspections.

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%

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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

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