UNM Nob Hill Duplex

Multi-Family for Sale
Catylist Listing ID: 30659131
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 2,348 SF
Gross Land Area: 0.16 Acres
Sale Price: $299,000
Unit Price: $149,500 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,348 SF
Sale Terms: Cash to Seller
Cap Rate: 4.7%
Average Occupancy Rate: 100
Gross Rent Multiplier: 13.11
Last Updated: 10/16/2020

Overview / Comments

NM Apartment Advisors is honored to list this amazing gem of duplex located just east of UNM, north of Nob-Hill and within walking distance of the Sprouts supermarket and short hop to Los Cuates and its world famous sweet and hot salsa!

Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50’s. This property was built in 2005, and includes two houses and a single car garage.

A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates.

Measurements of investment performance based on actual average rents of $1,000 per unit, 4.55% CAP rate, 17.40% before tax IRR, and 14.060% after tax IRR.

Based on a market rent of $1,138 per unit (and potential to charge for the garage) the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.

The location has a high walk (76), Bike (85), and transit (37) score and speaks of its excellent location between UNM and Uptown.

Please review flyer, APOD and LO/SO documents in document center prior to requesting an appointment for a showing.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: University
Taxing Authority: Bernalillo County
Tax ID/APN: 101705835305340308
Zoning: R-ML - Residential: Multi-family Low Density

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,930 140,477 307,858
Median Age: 40.85 35.67 37.63
Households: 10,104 62,227 135,204

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