Property Type:
Residential Income
Square Footage:
111,927
Lot Size (sq. ft.):
100,624
Status:
Closed
Current Price:
$11,000,000
List Date:
9/01/2016
Last Modified:
6/26/2017
Overview
Description
Well located next to Wholefoods store, one freeway exit from Downtown or Uptown, just north of the UNM legal and medical campus, this low density, 140 unit, completed renovated apartment community offers its residents an ''A'' infill location with 9 different floorplans.
Assumable Fannie Mae Financing at 67% loan to value offers an astute investor a before Tax IRR of 18.4%, and after Tax IRR of 14.0%.
Property also includes an additional 1.4 acres of land that could be used for future apartment development - see listing agent for more details.
Recently renovated, and priced well below replacement cost. Upside potential in adding Wi-Fi, and moving rents up 13% to submarket average.
Amenities include: 1 and 2 story town home units, fire places, 2 swimming pools, updated clubhous
Last Updated: June - 26 - 2017
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