Renovated Side by side fourplexes – 7.14% proforma cap

Multi-Family for Sale
Catylist Listing ID: 30766862
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 5,128 SF
Gross Land Area: 0.31 Acres
Sale Price: $597,998
Unit Price: $74,749.75 Per Unit
Property Use Type: Investment
Usable Size (USF): 5,128 SF
Sale Terms: Cash to Seller
Cap Rate: 5.72%
Average Occupancy Rate: 100
Gross Rent Multiplier: 9.83
Last Updated: 11/11/2021

Overview / Comments

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?

NM Apartment Advisors is excited to have listed these recently renovated side by side fourplexes at 618 & 620 Chama SE. New roof, deck/stair balusters, LED floodlights, electrical panels and complete interior renovations. 7 of the 8 units have new hot water heaters and furnaces as well.

Each fourplex sits on its own parcel of land and can be acquired for $298,999.99. Owner would prefer to sell as a package and at the ask price of $597,997.98 and an average rent of $634 the measure of investment performance include a GRM of 9.83, a CAP rate of 5.72% (before reserves), a price per unit of $74,750a price per square foot of $116.61 an after tax IRR of 16.10%.

If rents were to be raised to market of $750, the measures of investment performance improve to a GRM of 8.31, and a cap rate of 7.14% (before reserves).

Each fourplex is priced aggressively – coming in at $10,000 under recent comparable sales, even though those sales have an average rent that is $87 lower than the subject property.

The 23 page property flyer with APOD, rents, expenses, floorplans, photos and more at

Additional information available to those buyers who complete the online confidentiality agreement at

Do not wait – fourplexes that prices are at a historic high and on a blazing path of appreciation due to the new Amazon, Netflix, Facebook and Intel employment announcements.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalillo County
Tax ID/APN: 101905607337020321
Zoning: R-ML - Residential: Multi-family Low Density

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,139 112,073 265,480
Median Age: 31.94 36.6 37.28
Households: 11,514 49,911 116,249


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