Catylist ID: #30287250
$75,000 Price Drop ~ Tremendous Upside 12 Apts. $49,875 ea.
Multi-Family for Sale
|Catylist Listing ID:||30287250|
|Property Subtypes:||Duplex/Fourplex, Low-Rise/Garden|
|Number of Units:||12 Units|
|Building Size (RSF):||7,260 SF|
|Gross Land Area:||0.54 Acres|
|Unit Price:||$49,875 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Crest Avenue Apartments|
|Sale Terms:||Cash to Seller|
|Gross Rent Multiplier:||7.62|
Overview / Comments
This property consist of 3 contiguous four-plex units. It can be financed as residential.
One stable owner for over a decade. Considerable improvements and renovations have been done. New Asphalt, new energy efficient windows through out. Most of the kitchens have been redone, new cabinets, counter sinks, faucets, floors fixtures. All unit have been tiled in common areas. Bedrooms have carpet.
Qualified, screened and established residents. Many long term. This property stays close to 100% occupied.
Inventoried Rents abound! Existing rents are substantially below market and can be improved by about 15%!
Attachments & Media
|Zoning:||R-MH - Residential: Multi-family High Density|
|Area Description:||Residential area, mix of smaller multifamily properties and single family homes. Nob Hill is a skip and hop north, as is UNM, ABQ International Sunport, Kirkland Air Force Base are in the immediate area. Over the last several years there has been an explosive growth around the airport with support facilities, hotels, eateries, and the like.|
|Number of Stories:||1|
|Heat Type:||Natural Gas|
|Heat Source:||Wall Units|
|Air Conditioning:||Evaporative Cooler|
|Interior Description:||Very well laid out 2 Bdrm 2 Ba Units This property has been renovated. New energy window, new asphalt, all evaporative coolers replaced since current ownership took over. All most all apartment have new kitchens, Carpet in Bedrooms and ceramic tile everywhere else.|
|Proximity:||1 mile||3 miles||5 miles|
Michael F DennettUrban Southwest Investment Properties, Inc. CARNM CIE Member
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