Upscale Brick Four Hills area fourplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30725297
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,880 SF
Gross Land Area: 0.17 Acres
Sale Price: $369,500
Unit Price: $92,375 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,880 SF
Sale Terms: Cash to Seller
Cap Rate: 5.57%
Average Occupancy Rate: 100
Gross Rent Multiplier: 10.62
Last Updated: 5/27/2021

Overview / Comments

On behalf of the owners, NM Apartment Advisors is excited to bring this opportunity to purchase a four-plex in the Singing Arrow Neighborhood.

It is well located and close to grocery, shopping and a movie theater. Convenient freeway access and great public transportation and bike path connections. The property is a short walk to the Singing Arrow Community Center that has before and after school programs.

Two apartments have new air conditioners, two have a newer heater and hot water heater (2019), one has new carpet, ceramic tile and refrigerator. The owner has filled in all fireplaces. All apartments have washer & dryer hookups and a walk-in closet in the larger bedroom. Upstairs apartments have private front and back balconies. Downstairs apartments have a private yard.

Based on current rents of $725 of month and the ask price of $369,500, the measure of investment performance include a GRM of 10.62, a before tax CAP rate of 5.81% before reserves, a price per unit of $92,375, a price per square foot of $95.23, a before tax IRR of 20.10% and an after tax IRR of 16.20%.

If rents were raised to market rate of $775, measures of investment performance increase to a cap rate of 6.30% and a cash on cash of 8.54%.

Flyer, Property info and APOD at http://www.nmapartment.com/apt/NMAA_Dorado12806SE.pdf

Fourplex inventory is an all-time historic low – so do not wait to jump on this deal!

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

PS: did you know we are on the cusp of a wave of forecasted double digit rent and housing growth/appreciation? Learn more at www.nmapartment.com/zoomforecast2021

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102205627031210901

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,216 87,738 192,050
Median Age: 35.28 38 38.79
Households: 8,330 36,758 84,391

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