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Courtesy: Nm Apartment Advisors, Inc.
  • Price:

    • $3,250,000

  • Listing #:
    • 847327
  • Class:
    • Multi-Residential
  • Status:
    • Active
  • Type:
    • 9 Or More Units
  • Apx. SqFt:
    • 33,000
  • # of Acres:
    • 1.30
  • Lot Size:
    • 56,628
  • Year Built:
    • 1960
  • Subdivision:
    • Heights Reservoir Add Tr 18
  • Address:
    • NE Monroe Street
  • City:
  • County:
    • Bernalillo
  • Area:
    • 40 - Unm
  • State:
    • NM
  • Zip:
    • 87108

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Description

Originally built in 1960, many of the one bedroom one bathroom units have the original 60's decor and offer an abundance of storage and natural lighting. Possible interior upgrades include adding dishwashers, garbage disposals and updating surfaces. Possible exterior upgrades include moving to refrigerated package hvac units, solar carports, community gardens, and bike facilities.Based on the ask price of $3,250,000 and an average rent of $608 ($0.99/sf), the property offers a 6.96% Cap rate, 10.76% cash con cash, 18.9% before tax IRR, and a 14.3% after tax IRR. Based on proforma rents of $739, the property could be a 8.95% CAP rate, 20.69% cash on cash, and astronomical IRR.Adjoins recently renovated property that is current collecting rents between $775 to $1,075.
  • Units
    • Owner Occupant Unit:
      • - No
    • Total # Of Buildings:
      • - 7
    • # Of Units:
      • - 50.00
    • Unit Summary: Total Units:
      • - 50
    • # Of Unit Types (1): # Of Units:
      • - 50
    • # Of Unit Types (1): Approx. Sqft:
      • - 653
    • # Of Unit Types (1): # Of Bedrooms:
      • - 1
    • # Of Unit Types (1): # Baths:
      • - 1.00
    • # Of Unit Types (1): Market Rent:
      • - 665
    • # Of Unit Types (1): Actual Rent:
      • - $605.00
    • # Of Unit Types (1): Max Rent:
      • - 610
  • Construction
    • Age:
      • - 1 - 3
    • Number Of Stories:
      • - 2
    • Stories:
      • - 2.0
    • Details:
      • - Frame
    • Roof:
      • - Flat
    • Details:
      • - Stucco
    • Builder:
      • - Unk
    • Flooring:
      • - Carpet
      • - Tile
    • Basement:
      • - No
    • Disability Access:
      • - Unknown
    • Lbp Disclosure:
      • - Yes
  • Lot
    • Details:
      • - R-3
  • Rent
    • Tenant Pays:
      • - None
    • Rental Info:
      • - Current Lse Agreemnt
    • Unit Summary: Annualized:
      • - 363000.00
    • Unit Summary: Average Unit Size:
      • - 653.00
    • Unit Summary: Average Actual Rent:
      • - 605.00
    • Unit Summary: Total Actual Rent:
      • - 30250.00
    • Owner Pays:
      • - Electric
      • - Gas
      • - Maintenance
      • - Sewer
      • - Trash Removal
      • - Water
  • Utilities
    • Utilities:
      • - All City
    • Heating:
      • - Central Forced Air
    • Cooling:
      • - Evaporative
    • Metering:
      • - All Master Metering
  • Income & Expenses
    • Operating Expenses:
      • - All
      • - Call Listing Broker
    • Approx. Taxes:
      • - 13213.10
    • Tax Exemption:
      • - No
  • Miscellaneous
    • Details:
      • - Laundry Community
      • - Some Landscaping
    • Appliances Included:
      • - Refrigerator
    • Days On Market:
      • - 752
    • Finance Considered:
      • - Cash
      • - Conventional

For more information on this listing, please contact...