Property Type:
Residential Income
Square Footage:
32,328
Lot Size (sq. ft.):
83,635
Status:
Closed
Current Price:
$2,125,000
List Date:
4/11/2017
Last Modified:
11/19/2019
Overview
Description
NM Apartment Advisors is excited to bring to market a high cap rate, value add opportunity in Alamogordo, New Mexico.
Offered for sale by the original developer's family, this 52-unit community is nestled in tall pines trees on a cul-de-sac not just a short distance to the foothills of the Sacramento mountains and short drive to New Mexico's iconic White Sands national monument.
The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.
Built in 1986-1987, this 52unit community contains 24 studios, 24 x 1 bedroom/1 bathrooms and 4 two bedrooms, two of which have garages.
Based on the current average rents of $460 per month, the property's measures of investment performance include a 7.40 GRM, 8.33% ca
Last Updated: November - 19 - 2019
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Flyer & APOD ›