Catylist ID: #30364974
Downtown 29 units, 9.49% proforma Cap with 6 garages
Multi-Family for Sale
|Catylist Listing ID:||30364974|
|Number of Units:||29 Units|
|Building Size (RSF):||17,700 SF|
|Gross Building Area:||20,468 SF|
|Gross Land Area:||0.66 Acres|
|Unit Price:||$73,103.45 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Coal 29|
|Usable Size (USF):||17,700 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||11|
Overview / Comments
NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SW
35 page flyer at http://www.nmapartment.com/apt/NMAA-Coal1021SW.pdf
Gated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.
Measures of investment performance at ask price of $2,120,000 and current average rent of $554 are a GRM of 11.00 a 5.64% cap rate, $73,103 per unit, $120/sf.
If rents are raised to market average of $830, measures of investment performance increase to a GRM of 7.34, and a 9.49% cap rate.
Don’t miss out – this was part of a larger portfolio that just sold and provides two recent comparable sales on the same street – all cash investors range between 5.6% to 5.9% cap rates.
Sellers have lined up their next exchange and is ready to get this moved and have authorized me to offer two prices - current appraisal at $2,120,000 for a buyer who needs financing, and $2,050,000 for an all cash buyer who can close quickly.
Please do not disturb residents - virtual tours at :
Register for additional confidential information at www.nmapartment.com/coal3
Attachments & Media
|Zoning:||MX-L - Mixed-use: Low Intensity|
|Construction/Siding:||Stucco, Wood Frame|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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