Property Type:
Residential Income
Square Footage:
8,634
Lot Size (sq. ft.):
13,068
Status:
Closed
Current Price:
$1,200,000
List Date:
10/02/2022
Last Modified:
11/16/2022
Overview
Description
Available for the first time in 35 years, these 12 units comprise a nice mix of easily rentable two-bedroom, one-bedroom, and studio apartments. The 3 two-bedroom/one bath units have large, covered patios with views of the City. The property also contains three garages and one laundry facility, plus some additional off-street parking. The apartments are in a great location close to UNM and Presbyterian and Lovelace hospitals. Current rents are well below market which would allow for the capitalization rate to improve to 5.81% and the total return on equity to improve to 6.73%. The after-tax IRR is projected to be 11.36% on a 5-year hold.
Last Updated: November - 16 - 2022
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