Catylist ID: #30277955
Alvarado owners style triplex
Multi-Family for Sale
|Catylist Listing ID:||30277955|
|Number of Units:||3 Units|
|Building Size (RSF):||2,940 SF|
|Gross Land Area:||0.19 Acres|
|Unit Price:||$85,333.33 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||2,940 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||9.63|
Overview / Comments
Amazing owner occupant (or investor) triplex - first time on the market - and offered original developer's family who has held title and occupied the property for 40+ years.
The developer, Mr. Carl Williams was a rancher, developer and former executive director of the City of Albuquerque Parks and Recreation department.
In 1963, he acquired this lot and designed his dream triplex, with plans (see page 16) to live there the rest of his life.
Currently the property is owned and occupied by Carl’s granddaughter Deb and her husband Bob who live in Unit A. They have kept unit B vacant and furnished for when their out of state daughter visits and Unit C occupied by their son.
The property is being marketed with the bid process and an ask price of $256,000. Market comparable indicate that the final price is closer to $301,151.
Current measure of investment performance as the ask price of $256,000 are a GRM of 6.93, a after reserves cap rate of 7.20%, a 11.50% cash on cash, and a after tax IRR of 19.40%. The comparable sales support a price of $301,151 which makes the GRM 11.32, after reserves cap rate of 6.10%, a 7.20% cash on cash, and an after tax IRR of 12.10%.
The property tour is scheduled for noon on June 6th, 2018 - you can register at www.nmapartment.com/alva941
Offer deadline for this property is 5pm, on June 12th, 2018.
Attachments & Media
|Zoning:||R-3 - Residential Zone|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Laundry:||In Each Unit|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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