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: $297,000
Unit Price: $74,250 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,436 SF
Sale Terms: Cash to Seller
Cap Rate: 6.43%
Average Occupancy Rate: 100
Gross Rent Multiplier: 9.31
Last Updated: 6/26/2021

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.

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

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

Additional Details

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

View FullscreenMap

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

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.