Pete Taylor - Coldwell Banker Legacy
1422 4th Street NW
Albuquerque, NM 87102

Description

Located just north of the downtown skyline in the historic Wells Park neighborhood, this 12 unit apartment price reflects the overall condition and upside potential.Property contains small units that average $561 a month in rents. Measure of investment performance at the starting ask price of $499,000 include a GRM of 6.18, a 8.70% Cap rate (after reserves, 9.10% before), 11.50% Cash on cash, and a 18.80% after tax IRR.Recent appraisal was $572,000 - and recent comps indicate a value closer to $533,626, and if the average rent was increased to market of $729, that comparable sales price a 11.9% CAP rate.In short, this property is all upside.Co-Listed with Chuck Sheldon of T & C management.

Details

MLS#921090
Sub-TypeResale
StatusActive
Year1933
Days On Site124

Features

SQ Feet5,738
Units12
Building(s)2

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87102
Area80 - Downtown Area
Listing VS Median (in 87102)
Price:
$499,000
low | high
Med:
$200,000
100% of Average
SqFt:
5,738
low | high
Med:
1,380
100% of Average
$ / SqFt:
$87
low | high
Med:
$145
16.652144869449% of Average
On Site:
124
low | high
Med:
20
100% of Average
Listing Updated: 10/14/2018
MLS Number: 921090
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.