Catylist ID: #30642770
NE Heights Fourplex
Multi-Family for Sale
|Catylist Listing ID:||30642770|
|Number of Units:||4 Units|
|Building Size (RSF):||3,596 SF|
|Gross Land Area:||0.19 Acres|
|Unit Price:||$66,250 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,596 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||6.69|
Overview / Comments
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.
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!
Attachments & Media
|Zoning:||R-ML - Residential: Multi-family Low Density|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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