Listing Detail for MLS: 969536
Courtesy: NM Apartment Advisors, Inc.

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

  • Price:

    • $3,697,880

  • Listing #:
    • 969536
  • Class:
    • Multi-Residential
  • Status:
    • Active
  • Type:
    • Residential Income
  • Style:
    • Multi Family
  • # of Units:
    • 36
  • Bedrooms:
    • 1
  • Bathrooms:
    • 1.00
  • Apx. SqFt:
    • 27,382
  • # of Acres:
    • 1.06
  • Year Built:
    • 1960
  • Subdivision:
    • Manzana Manor
  • Address:
    • 2713 Wyoming Boulevard NE
  • City:
  • County:
    • Bernalillo
  • State:
    • NM
  • Zip:
    • 87111

Description

Located walking distance to Sandia High School, and a short drive to all the retail experiences that Uptown offers.This is a core asset with stabilized cash flow, attractive renovations, with a solid platform provided for the next owner to enhance their income position.CORE AssetMeasures of investment performance at a price of $3,697,880 and current average rent of $744/month are a GRM of 11.50, a 5.75% cap rate, $102,719 per unit, $141/sf, and a cash on cash return of 10.26%. The after tax internal rate of return is 14.10%Value AddIf the remaining 25% of the units are renovated, the potential annual rent for the coming year increases by $10,980 which at a 5.75% cap rate adds $190,956 in value. If all rents are raised to the property's market rate, the Cap rate improves
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