Catylist ID: #30404680
Amazing foothills fourplex units with private patio home layouts
Multi-Family for Sale
|Catylist Listing ID:||30404680|
|Number of Units:||4 Units|
|Building Size (RSF):||3,976 SF|
|Gross Land Area:||0.51 Acres|
|Unit Price:||$116,250 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,976 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||11.92|
Overview / Comments
NM Apartment Advisors is excited to bring to market a unique, patio home layout fourplex with close proximity to our world-famous Sandia Aerial Tramway.
Located at 781 Tramway Place NE, and on intersection of Live Oak Road NE, Tramway Place NE and with frontage on the Tramway hiking/biking trail, this property has amazing views of the majestic Sandia Mountains. Please note the property is located just outside of the city limits in the unincorporated part of Bernalillo County and is part of a community water system.
Built in 1978, this four-unit community contains large (almost 1,000 sf) two bedroom, two bathroom units with washer/dyers washer/dryer hookups.
Priced at $465,000 or $117/sf or $116,250 per unit, the ask price is a bit less than the comparable sales of $483,908.
Based on the current average rents of $813 per month, the property’s measures of investment performance include a 11.92 GRM, 5.89% cap rate before reserves, before tax IRR of 16.90% and an after tax IRR of 13.70%.
If rents were raised to the highest rent in the community ($925), the measures of investment performance improve to a 6.93% cap rate, and 8.03% cash on cash.
Flyer, APOD, and property info at http://www.nmapartment.com/apt/NMAA-Tramway781NE.pdf
Virtual tour of unit B can be found at www.nmapartment.com/tram781
Property is 100% occupied and the owner suggest making offers subject to inspection.
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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