NE Heights Fourplex – patiohome style units

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30783196
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,622 SF
Gross Land Area: 0.22 Acres
Sale Price: $335,506
Unit Price: $83,876.50 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,622 SF
Sale Terms: Cash to Seller
Cap Rate: 4.62%
Average Occupancy Rate: 100
Gross Rent Multiplier: 10.86
Last Updated: 1/17/2022

Overview / Comments

This beautiful fourplex is like a series of side by side patio homes. Located in the NE heights, nestled just west of the stunning Sandia mountain foothills, this value add property also has potential for an owner occupant as two units are coming vacant in the near future.

Each unit has its own backyard space, washer/dryer hookups and kitchen area to the living space.

Do not miss out on this rare opportunity to own a investment asset in an area surrounded by new employment and development opportunities

13 page flyer can be found at - http://www.nmapartment.com/apt/NMAA-Copperwood12621NE.pdf

Measures of investment performance at ask price of $335,506 with a current average rent of $644 are a GRM of 10.86, a 4.99% cap rate before reserves, 4.72% cap rate after reserves, 14.80% after tax IRR, $83,877 per unit, and a price per sf of $98.68.

If all of the unit rents are raised to the market of $835, the measure of investment performance improve to a cap rate of 7.34%.

Do not wait, currently there are less then 10 fourplexes in the market for sale, and few that are in this kind of highly sought after location.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Northeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102205724829020750
Percent Occupied: 100%
Property Condition: Fair
Number of Stories: 2
Year Built: 1979
Roof Type: Flat

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,279 111,303 220,687
Median Age: 35.7 38.33 39.28
Households: 9,986 46,939 98,471

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