NE Heights Fourplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30642770
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,596 SF
Gross Land Area: 0.19 Acres
Sale Price: $265,000
Unit Price: $66,250 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,596 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Gross Rent Multiplier: 6.69
Last Updated: 9/14/2020

Overview / Comments

Good morning!

On behalf of the owner, NM Apartment Advisors and Deacon Property Services is pleased to present this extremely unique opportunity to own an exceptionally large, townhouse style fourplex..

New to the market and an amazingly rare find – the perfect fourplex for an owner occupant in Albuquerque’s northeast heights.

Nestled in a community of family of other fourplexes, this 2 bedroom, 1 bathroom + washer/dryers has large two story units – one of which has a downstairs half bathroom. Each unit has its own backyard space with patio as well as internal laundry room. The owner has spent a lot of time, resources, care and attention to renovating three of the four units.

The property has recently taken on professional management and two of four units are leased – the remaining two are currently being shown to prospective residents, but there is a chance we can leave one vacant for your owner occupant.

Timeline:
Register for the confidential information and hold your seat for the Zoom meeting – deadline to register at www.nmapartment.com/copperwood is 10am on Wednesday, September 2nd, 2020
Attend the zoom meeting at noon on Wednesday, September 2nd, and learn about the property from the property manager, market overview from the listing brokers, and financing update.
Tour the property online
Review the financials
Learn the latest from capital markets
Make an offer – offer deadline is noon Friday, September 4th, 2020.

Starting Ask Price is $265,000, with an average rent of $825, measures of investment performance include a GRM of 6.69, a before reserves cap rate of 9.00% and an after-tax Internal Rate of Return (IRR) of 19.00%. If rents are raised to the market average of $900, measure of investment performance improve to a cap rate of 10.10% and a cash on cash of 21.70%.

The market comparable sales indicate a value of $319,997.

The 26 page flyer can be found at http://www.nmapartment.com/apt/NMAA-Copperwood12616NE.pdf
Tour 3 of the four apartments here:
Unit D- www.nmapartment.com/copper3d1d
Unit C- www.nmapartment.com/copper3d1c
Unit B- www.nmapartment.com/copper3d1b

Townhouse style, owner occupant ready, NE heights fourplexes are hard to find – do not wait on this one!

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Northeast
Tax ID/APN: 102205724427220746
Zoning: R-ML - Residential: Multi-family Low Density
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1979

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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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