Catylist ID: #30725297
Upscale Brick Four Hills area fourplex
Multi-Family for Sale
|Catylist Listing ID:||30725297|
|Number of Units:||4 Units|
|Building Size (RSF):||3,880 SF|
|Gross Land Area:||0.17 Acres|
|Unit Price:||$92,375 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,880 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||10.62|
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!
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
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
|Taxing Authority:||Bernalillo County|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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