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:||$74,250 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,436 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||9.31|
Overview / Comments
NM Apartment Advisors is excited to have listed this fabulous Fourplex near Four Hills at 312 Western Skies SE. This property is well located within walking distance to a movie theater, two grocery stores, and a dozen restaurants and on near a major turn around terminus for City of Albuquerque for mass transit.
Four by two bedroom one bathroom units with common area laundry room.
Offered at the recent appraisal price of $297,000 and an average rent of $618 the measure of investment performance include a GRM of 10.02, a CAP rate of 5.97% (before reserve), a price per unit of $74,250 a price per square foot of $86.44 an after-tax IRR of 16.70%.
If rents were to be raised to market of $686, the measures of investment performance improve to a GRM of 9.02, and a cap rate of 6.93%.
The 17 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 29% 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.
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
|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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