Catylist ID: #30356541
Multi-Family for Sale
|Catylist Listing ID:||30356541|
|Number of Units:||12 Units|
|Building Size (RSF):||8,640 SF|
|Gross Land Area:||0.45 SF|
|Unit Price:||$61,058.92 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Downtown Dozen|
|Usable Size (USF):||8,640 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||8.59|
Overview / Comments
NM Apartment Advisors is very excited to bring to market twelve-plex at 1515 8th NW, located in Downtown Albuquerque, this property has a high walk (65), bike (76), and transit (57) scores.
The property’s is walking distance Albuquerque’s museum corridor, Tiguex Park and Old town and biking distance to the central business district.
At the ask price of $732,707 and an average rent of $593, the measure of investment performance include a GRM of 8.59, a CAP rate of 6.25%, a price per unit of $61,059 a price per square foot of $84.80 a before tax IRR of 23.40% and an after tax IRR of 19.50%.
If rents were raised to market of $643, the measure of investment performance improve to a cap rate of 7.40%.
Clients and their brokers can view the property info, APOD and flyer at
These townhouse style units are all two bedrooms and one bathroom that includes washer/dryer hookups.
The property’s ideal location, sandwiched between Old Town and Downtown, combined with the unit floorplans and potential private outdoor spaces, makes this an ideal candidate for conversion to full time vacation rentals or condominiums.
Attachments & Media
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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