Owner Occupant Triplex with garages

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30751101
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 3 Units
Building Size (RSF): 2,940 SF
Gross Land Area: 0.19 Acres
Sale Price: $406,126
Unit Price: $135,375.33 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,940 SF
Sale Terms: Cash to Seller
Cap Rate: 5.76%
Average Occupancy Rate: 100
Gross Rent Multiplier: 12.84
Last Updated: 5/6/2022

Overview / Comments

On behalf of the owner, NM Apartment Advisors is excited to bring to market this owner occupant quality triplex. Each unit is like its own self-contained patio home – each with a spacious two bedroom, one bathroom residences with their own utility/laundry room, refrigerated air conditioning, private backyard and one car garages with automatic openers.

This property has had only one owner since the original family built it. The property was originally built in 1964 by Carl Williams, a well-known developer. It has been well maintained and where possible, upgrades were done with an owner living on site.

The property is located just west of the Gibson entrance and northeast of the Truman gate to Kirtland Air Force Base and Sandia National laboratories.

With an average rent of $925, and at the list price of $406,216 the measures of investment performance include $135,405 per unit, $138.17 per square foot, a before reserves cap rates of 5.59%, and an after tax IRR of 17.00%.

If rents are moved to market of $1,000, measure of investment performance improve to a cap rate of 6.09% and a cash on cash of 8.02%

If you were to owner occupy, low interest rates and having two adjoining renters would drive your monthly rent down by 50% to an average of $623.

The 26 page flyer at http://www.nmapartment.com/apt/NMAA-941AlvaradoSE.pdf

Do not miss out on this rare opportunity to own a high-quality investment asset in an area surrounded by new employment and development opportunities.

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 101805612120732302
Zoning: R-MH - Residential: Multi-family High Density
Percent Occupied: 100%

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,213 104,522 263,838
Median Age: 36.54 35.25 37
Households: 9,245 46,801 115,650

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