Catylist ID: #30421399
Multi-Family for Sale
|Catylist Listing ID:||30421399|
|Property Subtypes:||Duplex/Fourplex, Low-Rise/Garden|
|Number of Units:||7 Units|
|Building Size (RSF):||5,650 SF|
|Unit Price:||$64,000 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller, Owner Financing|
Overview / Comments
Portfolio of apartments/homes with seller financing – EDO & International district
Seven units, three locations - $448,000, 7.27% cap rate, seller financing and lots of upside.
Downtown EDO location - 621 Edith downtown duplex with new unfinished residence out front (owner says it needs just a few thousand dollars to be finished) – 1,650 sf, built in 1926, 0.16 acre lot.
International District locations
348 Dallas SE / 345 Pennsylvania SE – 2 back to back three bedroom residences on one 0.18 acre lot – built in 1980
324 Pennsylvania SE – two houses on one 0.15 acre lot- located across the street from 348 Dallas SE / 345 Pennsylvania SE Penn above.
Based on ask price of $500,338, and an average rent of $664, the measures of investment performance include a GRM of 8.97, a before reserve cap rate of 6.51% and a before tax IRR of 15.9% and after tax IRR of 12.9%.
Seller is open to financing - 25% down, 7.50% interest rate, 5 year balloon.
Flyer at http://www.nmapartment.com/apt/NMAA-Edith621SE.pdf
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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