Catylist ID: #30471265
Multi-Family for Sale
|Catylist Listing ID:||30471265|
|Number of Units:||4 Units|
|Building Size (RSF):||3,436 SF|
|Gross Land Area:||0.15 Acres|
|Unit Price:||$80,557.25 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||10.04|
Overview / Comments
Did you know that the average fourplex sales price of $322,843 reflects an appreciation of 31% between 2020 to 2021? Or that 24% of the fourplex market is in product that sold for more than $400,000? Our clients have our listing keeping pace with the (2.5%) monthly appreciation in the market as evidence by this property’s price increase from $299,500 to the new price of $322,229 and totally ready to go with full inspection reports available for your buyers review!
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. Unit 2 is currently vacant and under going an insurance related renovation by Paul Davis – that unit will be available for your owner occupant by closing.
At the ask price of $322,229 and an average rent of $669 the measure of investment performance include a GRM of 10.04, a CAP rate of 6.03% (before reserves), a price per unit of $80,557 a price per square foot of $93.78 an after tax IRR of 16.80%.
If rents were to be raised to market of $850, the measures of investment performance improve to a GRM of 7.90, and a cap rate of 8.40% (before reserves).
The 16 page property flyer with APOD, rents, expenses, floorplans, photos and more at http://www.nmapartment.com/apt/NMAA-Western304SE.pdf
Prior inspection reports are 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 (and there are only 7 other fourplexes for sale in ABQ area as of 1/10/2022).
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||MX-L - Mixed-use: Low Intensity|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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