Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50's. This property was built in 2005, and includes two houses and a single car garage.A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates. Measurements of investment performance based on actual average rents of $1,000 per unit, 4.55% CAP rate, 17.40% before tax IRR, and 14.060% after tax IRR. Based on a market rent of $1,138 per unit (and potential to charge for the garage) the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.The location has a high walk (76), Bike (85), and transit (37) score and speaks of its excellent location between UNM and
Listing courtesy of NM Apartment Advisors, Inc..
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