436 Utah Street
Albuquerque, NM 87108

Description

NM Apartment Advisors is excited to bring twelve studio unit property to market at 436 Utah NE. Located in two buildings that face each other across a 0.31 acre lot, this investment is a value add opportunity.Measures of investment performance at ask price of $488,549 and current average rent of $488 are a GRM of 6.95, a 7.50% cap rate, $40,712 per unit, $101.78/sf and a before tax IRR of 21.00 and an after tax IRR of 16.60%.If rents are raised to submarket average of $639, measures of investment performance increase to a GRM of 5.31, a 10.9% cap rate and a 21.50% cash on cash.

Details

MLS#935295
Sub-TypeResale
StatusActive
Year1974
Days On Site219

Features

SQ Feet4,800
Units12
Building(s)2

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87108
Area70 - Fairgrounds
Listing VS Median (in 87108)
Price:
$488,549
low | high
Med:
$206,850
100% of Average
SqFt:
4,800
low | high
Med:
2,760
92.5% of Average
$ / SqFt:
$102
low | high
Med:
$81
70.472291497673% of Average
On Site:
219
low | high
Med:
19.500000
100% of Average
Listing Updated: 08/17/2019
MLS Number: 935295
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.