Catylist ID: #30766862
Renovated Side by side fourplexes – 7.14% proforma cap
Multi-Family for Sale
|Catylist Listing ID:||30766862|
|Number of Units:||8 Units|
|Building Size (RSF):||5,128 SF|
|Gross Land Area:||0.31 Acres|
|Unit Price:||$74,749.75 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||5,128 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
|Gross Rent Multiplier:||9.83|
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 www.nmapartment.com/western304
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.
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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