Courtesy: NM Apartment Advisors, Inc.

For more information on this listing, please contact...

  • Price:

    • $2,000,000

  • Listing #:
    • 950793
  • Class:
    • Multi-Residential
  • Status:
    • Active
  • Type:
    • 9 Or More Units
  • Apx. SqFt:
    • 25,560
  • # of Acres:
    • 1.48
  • Lot Size:
    • 64,469
  • Year Built:
    • 1964
  • Subdivision:
    • Virginia Repl Add
  • Address:
    • SE Ortiz Drive
  • City:
  • County:
    • Bernalillo
  • Area:
    • 71 - Southeast Heights
  • State:
    • NM
  • Zip:
    • 87108

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Description

NM Apartment Advisors and the Ron Nelson Company is excited to bring to back to market this amazing 1960s & 70s vintage Albuquerque apartments 1116-1132 & 1200-8 Ortiz SE. A core asset with stabilized cash flow and recent renovations, it is also a value add deal with rents that are a bit below market.Measures of investment performance at ask price of $1,967,000 and current average rent of $586 are a GRM of 6.35, a 7.25% cap rate, cash on cash of 9.79% (before interest only component), $44,705 per unit, and $77/sf.If rents were raised to market average of $710, measures of investment performance increase to a GRM of 5.24, and a 8.60% cap rate.Recent neighborhood rent survey on pages 10-11.
  • Units
    • Owner Occupant Unit:
      • - Yes
    • Total # Of Buildings:
      • - 8
    • # Of Units:
      • - 44.00
    • Unit Summary: Total Units:
      • - 44
    • # Of Unit Types (1): # Of Units:
      • - 40
    • # Of Unit Types (1): Approx. Sqft:
      • - 552
    • # Of Unit Types (1): # Of Bedrooms:
      • - 1
    • # Of Unit Types (1): # Baths:
      • - 1.00
    • # Of Unit Types (1): Market Rent:
      • - 699
    • # Of Unit Types (1): Actual Rent:
      • - $570.00
    • # Of Unit Types (1): Max Rent:
      • - 595
    • # Of Unit Types (2): # Of Units:
      • - 4
    • # Of Unit Types (2): Approx. Sqft:
      • - 752
    • # Of Unit Types (2): # Of Bedrooms:
      • - 2
    • # Of Unit Types (2): # Baths:
      • - 1.00
    • # Of Unit Types (2): Market Rent:
      • - 825
    • # Of Unit Types (2): Actual Rent:
      • - 750
    • # Of Unit Types (2): Max Rent:
      • - 776
  • Construction
    • Age:
      • - 41 - 50
    • Number Of Stories:
      • - 1
    • Stories:
      • - 1.0
    • Details:
      • - Block
    • Roof:
      • - Flat
    • Details:
      • - None
    • Builder:
      • - Unknown
    • Flooring:
      • - Carpet
      • - Vinyl
    • Basement:
      • - No
    • Garage Spaces:
      • - 45.00
    • Disability Access:
      • - Unknown
    • Lbp Disclosure:
      • - Yes
  • Lot
    • Parking:
      • - Paved Lot
    • Details:
      • - Mx-l*
  • Rent
    • Tenant Pays:
      • - Other - See Remarks
    • Rental Info:
      • - Other - See Remarks
    • Unit Summary: Annualized:
      • - 309600.00
    • Unit Summary: Average Unit Size:
      • - 570.18
    • Unit Summary: Average Actual Rent:
      • - 586.36
    • Unit Summary: Total Actual Rent:
      • - 25800.00
    • Owner Pays:
      • - Other - See Remarks
  • Utilities
    • Utilities:
      • - Cable Connected
      • - Electricity Connected
      • - Natural Gas Connected
    • Heating:
      • - Other - See Remarks
    • Cooling:
      • - Other - See Remarks
    • Metering:
      • - All Master Metering
      • - Other - See Remarks
  • Income & Expenses
    • Income & Expenses: Annual Gross Income:
      • - 301301.00
    • Income & Expenses: Operat:
      • - 170620.00
    • Operating Expenses:
      • - Other - See Remarks
    • Approx. Taxes:
      • - 13150.00
    • Tax Exemption:
      • - No
  • Miscellaneous
    • Other Misc. Info::
      • - No Sign
    • Details:
      • - Walled Complex
    • Appliances Included:
      • - Refrigerator
    • Days On Market:
      • - 128
    • Finance Considered:
      • - Cash
      • - Conventional

For more information on this listing, please contact...