Catylist ID: #30737679
Multi-Family for Sale
|Catylist Listing ID:||30737679|
|Number of Units:||2 Units|
|Building Size (RSF):||1,862 SF|
|Unit Price:||$150,000 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||1,862 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||14.29|
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.
Todd Clarke CCIM
NM Apartment Advisors Inc.
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
|Taxing Authority:||Bernalillo County|
|Zoning:||R-ML - Residential: Multi-family Low Density|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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