317 Adams Street SE
Albuquerque, NM 87108
13050 sqft | 0.54 acres | #1074795
Description
This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes for the balance of the units.CORE AssetMeasures of investment performance at the ask price of $2,661,159 and current average rents of $792 a month are a GRM of 10.77, a 6.62% cap rate, $102,352 per unit, $204/sf, and an after tax internal rate of return is 13.20%And Value AddThe property is currently 24% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,023, the metrics of investment performance improve to a cap rate of 8.03% and a cash on cash of 8.98%.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
- Property TypeMulti-Family
- Exterior MaterialsLandscaping
- Property SubtypeMultiFamily
- CountyBernalillo
- Original List Price$2,661,159
- MLS #1074795
- Cost2661159
- MLS #1074795
- Taxes Annual$6,947
- Square Feet13050
- Acres0.54
- Year Built1985
- Stories2
Location
Legal
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Last Updated: . Source: SWMLS
Listing Courtesy
Listing Agent: Todd D Clarke (#clarkeda)
Listing Office: NM Apartment Advisors, Inc. (#NMAP01)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
