Description

The property has a street address of 609 5th SW and is on a corner lot with about 15 extra parking spaces.Measures of investment performance at ask price of $350,000 with a current average rent of $550 are a GRM of 18.61, a 3.00% cap rate before reserves, 2.81% cap rate after reserves, 8.80% after tax IRR, $116,667 per unit, and a price per sf of $378.79..If all of the unit rents are raised to the market of $795, the measure of investment performance improve to a cap rate of 4.58%, and that still leaves a large undeveloped downtown lot that might be used for parking or to develop additional units (please check with the City of ABQ for permissible uses).Disclosure: Co-listing broker Paul Chavez and owner are related.

Location Map

609 5th Street SW Albuquerque NM 87102

Courtesy of: NM Apartment Advisors, Inc.

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.

Updated: 21st May, 2022 11:58 PM (UTC).

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Source: Placester