Property Type:
Residential Income
Square Footage:
33,000
Lot Size (sq. ft.):
53,579
Status:
Active
Current Price:
$5,317,173
List Date:
10/09/2025
Last Modified:
2/17/2026
Overview
Description
CORE Asset
Measures of investment performance at the ask price of $5,317,173 and current average rents of $878 a month are a GRM of 8.06, a 6.19% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 17.0%
And Value Add
The property is currently 20.3% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,100, the metrics of investment performance improve to a cap rate of 8.82% and a cash on cash of 12.17%.
This community is located facing Zia park and Zia Elementary school and within walking distance of the Nob Hills 80+ restaurants. The property is also within biking distance of the University of NM and sits between two major transit corridors
Last Updated: February - 17 - 2026
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