Foothills duplex

Multi-Family for Sale
Catylist Listing ID: 30737679
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 1,862 SF
Sale Price: $300,000
Unit Price: $150,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 1,862 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Gross Rent Multiplier: 14.29
Last Updated: 6/15/2021

Overview / Comments

On behalf of the owner, NM Apartment Advisors is excited to bring to market this NE Heights Duplex. Nestled in the foothills of the majestic Sandia Mountains, this recent construction duplex offers an owner occupant or investor a rare opportunity to own in an amazing location at 172 Monte Largo NE.

The recent construction duplex has the advantages of being in the heights - close proximity to the hundreds plus miles of waking/hiking trails, located just a couple blocks from the Tramway bicycle trail and less than a mile from the Tramway entrance to Interstate 40.

Register today for additional information on this property as full copies of the inspection reports will be available to investors who complete the online confidentially agreement at www.nmapartment.com/montelargo

At the ask price of $300,000, the measure of investment performance at current average rent of $875, include a GRM of 14.29, 4.69% Cap rate after reserves, and an after tax IRR of 12.80%.

If rents are raised to a market rent of $1,025, the measure of investment performance improve to include a cap rate of 5.63% and a cash on cash of 6.34%.

18 page flyer at – http://www.nmapartment.com/apt/NMAA-MonteLargo172NE.pdf

This is rare opportunity to own side by side units in the NE heights submarket and to be positioned to take advantage of the rent increases likely coming due to the announcement of large employment expansions at Amazon, Facebook, Intel, and Netflix.

Thanks,
Todd Clarke CCIM
CEO
NM Apartment Advisors Inc.
tclarke@nmapartment.com
(505) 440-TODD

PS: are you tracking the housing market and the double digit single family home appreciation as well as the forthcoming double digit rent growth? We have been and are glad to share at our Forecast 2021 – www.nmapartment.com/zoomforecast2021

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Northeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102305612343320628
Zoning: R-ML - Residential: Multi-family Low Density
Percent Occupied: 100%

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,763 73,234 179,413
Median Age: 35.76 38.94 39.14
Households: 6,767 31,205 77,976

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