Old Town Triplex

Multi-Family for Sale
Catylist Listing ID: 30344088
Property Subtypes: Duplex/Fourplex
Number of Units: 3 Units
Building Size (RSF): 2,635 SF
Gross Land Area: 0.10 Acres
Sale Price: $299,000
Unit Price: $99,666.67 Per Unit
Property Use Type: Investment
Building Name: Oldtown Triplex
Usable Size (USF): 2,635 SF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 5.59%
Average Occupancy Rate: 100
Last Updated: 3/15/2019

Overview / Comments

NM Apartment Advisors is very excited to bring to market this Old Town Triplex to market - located at where Marble meets 19th street, just south of Tiguex Park and the Albuquerque museum at 325 19th NW, this property has a high walk (80), bike (97), and transit (40) scores.

Each unit is a residence in its own – with fireplaces, laundry rooms and unusually unique built-ins and could make an ideal vacation rental.

At the ask price of $299,000 and an average rent of $853, the measure of investment performance include a GRM of 10.25, a CAP rate of 5.82%, a price per unit of $99,667, a price per square foot of $113.47 a before tax IRR of 11.80% and an after tax IRR of 9.10%.

The apartment units have an unusual floorplan - please review the flyer for details and the virtual tours at:
A- www.nmapartment.com/19th325A
B- www.nmapartment.com/19th325B
C- www.nmapartment.com/19th325C

If rents were raised to market of $1,041, the measure of investment performance improve to a cap rate of 7.62% and a cash on cash of 11.16%

Clients and their brokers can register for additional information by completing the on-line confidentially agreement at www.nmapartment.com/19th325

Property is 100% occupied and seller suggests making an offer subject to inspection.


Finance Data Year 2017
Potential Rental Income $37,488 (Annual)
Gross Operating Income $29,184 (Annual)
Net Operating Income $16,715 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101305820327720612
Zoning: R-ML - Residential: Multi-family Low Density
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 1
Year Built: 1941
Roof Type: Flat
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Evaporative Cooler

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,364 123,070 299,292
Median Age: 37.4 34.61 34.19
Households: 5,782 49,432 118,174


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