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1301 Filmore (1309-1325) Avenue

Alamogordo, NM 88310
  • $2,339,292
  • STATUS: Active
  • ON SITE: 59 Days
  • MLS #: 1011228
UPDATED: 159 min ago
$2,339,292
  • 2
    BEDS
  • 1.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 30,944
    SQFT
  • $76
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1978
County:
Area:

School Ratings & Info

Description

This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.Based on the current average rents of $602 per month, the property's measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%.If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash.Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8)

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IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Carson & Carson | Keller Williams Santa Fe. Data last updated: 2022-05-23T00:05:12.323.
www.santafepropertyfinder.com/homes/127042745
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1301 Filmore (1309-1325) Avenue Alamogordo, NM 88310

  • Price: $2,339,292
  • Status: Active
  • On Site: 59 Days
  • Updated: 159 min ago
  • MLS #: 1011228
2
Beds
0
Baths
0
½ Baths
1.32
Acres
30,944
SQFT
$76
$/SQFT
1978
Built
Neighborhood:
Subd: Aspen Park Lot: 10
County:
Otero
Area:
550 - Otero
Property Description
This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.Based on the current average rents of $602 per month, the property's measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%.If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash.Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8)
Exterior Features

Construction Materials Frame Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring Vinyl Heating CentralForced Air Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 30944 Community Features Deck/PorchLaundry Facilities Disclosures Ranm 2100 Disclosure Gross Income 219450 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 74363 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 1756.16 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Description R-2

Listing courtesy of Nm Apartment Advisors, Inc.. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Carson & Carson | Keller Williams Santa Fe. Data last updated: 2022-05-23T00:05:12.323.
 
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