This is the first time this property has been available since 1994.The property, 200 Hermosa NE, occupies a full block from Hermosa to Solano on the north side of Copper and has a high walk (91), bike (99), and transit (41) scores (note - the property is about 300' north of the new ART Stop).At the ask price of $1,355,114 and an average rent of $517, the measure of investment performance include a GRM of 10.25, a CAP rate of 5.85%, a price per unit of $63,577, a price per square foot of $117.42 and a before tax IRR of 17.50%.If rents were raised to market of 658, the measure of investment performance improve to a cap rate of 8.08%, and a cash on cash of 10.71%.Owner is open to seller financing, with a down payment of no less than 25%, interest rate of 6%, a 30 year amort, 5
Listing courtesy of NM Apartment Advisors, Inc..
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