Catylist ID: #30700112
Four Hills Fourplex
Multi-Family for Sale
|Catylist Listing ID:||30700112|
|Number of Units:||4 Units|
|Building Size (RSF):||3,436 SF|
|Gross Land Area:||0.20 Acres|
|Unit Price:||$74,875 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,436 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||10|
Overview / Comments
On behalf of the owner, NM Apartment Advisors and Deacon Property Services are excited to bring to market this four hills area fourplex located at 312 Western Skies SE.
Did you know that the average fourplex sales price of $314,948 reflects an appreciation of 38% between 2020 to 2021? Or that 25% of the fourplex market is in product that sold for more than $400,000?
This property is well located within walking distance to a movie theater, two grocery stores, and a dozen restaurants and near a major turnaround terminus for the City of Albuquerque’s mass transit system.
The property contains Four by two bedroom one bathroom units with their own utility closet with washer/dryer hook-ups.
At the ask price of $299,500 and an average rent of $624 the measure of investment performance include a GRM of 10.00, a CAP rate of 6.01% (before reserves), a price per unit of $74,875 a price per square foot of $87.17 an after-tax IRR of 16.70%.
If rents were raised to market of $850, the measures of investment performance improve to a GRM of 7.34, and a cap rate of 9.01%.
The 14 page property flyer with APOD, rents, expenses, floorplans, inspection summary, photos and more at http://www.nmapartment.com/apt/NMAA-Western312SE.pdf
Copies of leases, recent inspection reports and appraisal are available to investors when they complete the online confidentially agreement at http://www.nmapartment.com/westernskies312
Do not wait – with 38% historical appreciation in the fourplex market, and more PENDING listings than available, this one is not likely to be on the market very long.
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
Deacon Property Services
PS: did you know double digit rent growth is in Albuquerque’s future – recent employment expansion is driving unparalleled demand for rental properties – review the complete presentation at http://www.nmapartment.com/zoomforecast2021
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||R-ML - Residential: Multi-family Low Density|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
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