6.92% cap rate brick pitched roof fourplex

Multi-Family for Sale
Catylist Listing ID: 30663972
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,032 SF
Gross Land Area: 0.16 SF
Sale Price: $288,000
Unit Price: $72,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,032 SF
Sale Terms: Cash to Seller
Cap Rate: 6.92%
Average Occupancy Rate: 100
Last Updated: 11/6/2020

Overview / Comments

On behalf of the owner, NM Apartment Advisors Inc., and Morenus Real Estate are pleased to present this opportunity to acquire a well located Knob Heights fourplex. Located at 3417 Thaxton SE and in an area of amazing newly announced developments – this fourplex offers a lot for either the owner occupant or investor

The property is located next to Puerto del Sol Golf Course and is near Hyder Park, Nob Hill, and UNM. A new pitched shingle roof was installed in 2019, and has newer evaporative coolers. The 4 occupied apartments consists of three two bedroom, one bathroom units with month to month residents. The fourth apartment is a really large three bedroom, one bathroom unit that recently nicely renovated with new light fixtures, kitchen cabinets with soft close doors and drawers, granite countertops, stainless steel appliances (including stackable washer and dryer), vinyl windows, and remodeled bathroom.

At the Ask Price of $288,000, and with an average rent of $691, measures of investment performance include a GRM of 8.68, a before reserves cap rate of 6.92% and an after tax Internal Rate of Return (IRR) of 17.30%. If rents are raised to market of $719, measures of investment performance improve to a GRM of 8.35 cap rate of 7.22%.

17 page flyer can be found at http://www.nmapartment.com/apt/NMAA-Thaxton3417SE.pdf

Register for additional information at www.nmapartment.com/thaxton

Do not wait - Fourplexes are hot commodities in today’s market.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Airport
Tax ID/APN: 101605642017941205
Zoning: MH - Residential Zone
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 1
Year Built: 1962
Roof Type: Gable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,556 97,635 258,822
Median Age: 35.26 35.2 36.65
Households: 7,039 44,312 110,422

Contact

Photograph of Listing Agent

Clinton Morenus

Morenus Real Estate CARNM CIE Member
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