Property Type:
Residential Income
Square Footage:
26,954
Lot Size (sq. ft.):
79,998
Status:
Closed
Current Price:
$2,272,500
List Date:
3/28/2019
Last Modified:
10/02/2020
Overview
Description
This property is hard to find combo - new(er) construction, midsize and located on Albuquerque's growing westside. Located within walking distance of the prestigious St. Pius high school, the property is also very close to new employment and retail opportunities.
Built in 2003-2006, this 30 unit community contains 29 x 2/1 with washer/dryer hookups, 32 rent free storage spaces, and a large owners/managers' unit – 3/2 + 2 car garage as well as a small onsite management office.
Based on the current average rents of $705 per month, the property's measures of investment performance include a 8.96 GRM, 6.83% cap rate before reserves, before tax IRR of 21.7% and an after tax IRR of 17.7%.
Value in 3rd party management, charging for storage units & raising rents.
Last Updated: October - 02 - 2020
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 ›