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.

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609 5th Street SW Albuquerque NM 87102

Courtesy of: NM Apartment Advisors, Inc.

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

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