Harvard Duplex

Multi-Family for Sale
Catylist Listing ID: 30622946
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 1,450 SF
Gross Land Area: 0.16 Acres
Sale Price: $289,736
Unit Price: $144,868 Per Unit
Property Use Type: Investment
Usable Size (USF): 1,450 SF
Sale Terms: Cash to Seller
Cap Rate: 6.6%
Average Occupancy Rate: 100
Last Updated: 4/20/2021

Overview / Comments

Amazing duplex near UNM and CNM located at 412 Harvard SE– priced well below market comparable sales and ready to move!

This property is packaged for a fast, smooth and easy transaction – the flyer contains rent roll summary, APOD, 5 year internal rate of return projection, comparable sales, property management info, inspection summary, financing quote, photos, floorplans, and update on the impact of the Corona-Virus on the apartment investment marketplace.

Register for the confidential information at www.nmapartment.com/412harvard.

With a price of $289,736, and an average rent of $1,018, measures of investment performance include a GRM of 11.86, a before reserves cap rate of 6.21% , a cash on cash of 8.56%, and an after tax Internal Rate of Return (IRR) of 14.90%. If rents are raised to the market average of $1,148, measure of investment performance improve to a cap rate of 6.97% and a cash on cash of 11.57%.

Located just south of the world famous Bricklight district, and the locally famous El Patio Diner, this two unit property is a potential dream for any value ad buyer. Chip and Joanna fans this is the property for you as the Main House has wall to wall shiplap! 3 bed 2 bath with gleaming hardwood and laminate floors throughout, attractive built-in shelving, ceiling fans solar tubes, and lots of windows for great natural light. One bedroom casita features an open floor plan with stained concrete floors throughout, a long private driveway with drive-thru gates, and plenty of private yard space. Whether you need to be close to UNM or CNM - both are a short walk away from their central campuses.

25 page flyer can be found at http://www.nmapartment.com/apt/NMAA-harvard412SE.pdf

Virtual tours of the units at:
412 – www.nmapartment.com/412harv3d1
412-1 – www.nmapartment.com/412harv3d2

University apartments generally sell fast to parents of University students – do not wait on this one!

Two updates:
1. Resident in the front house is relocating by 4/1/2021
2. Owner has authorized window upgrades of front house 14 new windows totaling $71,73.69

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: University
Taxing Authority: Bernalillo
Tax ID/APN: 101605704706930618
Percent Occupied: 100%

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,507 107,213 277,168
Median Age: 29.92 35.87 36.33
Households: 7,921 48,561 117,036


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