Four Hills Fourplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30700112
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 3,436 SF
Gross Land Area: 0.20 Acres
Sale Price: $299,500
Unit Price: $74,875 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,436 SF
Sale Terms: Cash to Seller
Cap Rate: 6.01%
Average Occupancy Rate: 100
Gross Rent Multiplier: 10
Last Updated: 11/17/2021

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.

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

and

Kyle Deacon
Deacon Property Services
(505) 878-0100
KyleD@deaconnm.com

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

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 102205619130510539
Zoning: R-ML - Residential: Multi-family Low Density

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,236 89,289 194,028
Median Age: 34.77 37.81 38.82
Households: 7,938 37,269 85,465

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