Description
Recent reports have indicated 18% year over year rent growth in Albuquerque - and as we enter the fifth housing shortage in our city's history, this trend is likely to continue for many years to come.Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.At the ask price of $428,358 and an average rent of $708the measure of investment performance include a GRM of 8.41, a CAP rate of 7.57%.
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1BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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4,287SQFT
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$100$/SQFT
School Ratings & Info
Description
Recent reports have indicated 18% year over year rent growth in Albuquerque - and as we enter the fifth housing shortage in our city's history, this trend is likely to continue for many years to come.Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.At the ask price of $428,358 and an average rent of $708the measure of investment performance include a GRM of 8.41, a CAP rate of 7.57%.
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: 2022-08-10T07:04:54.633.
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Listing courtesy of Nm Apartment Advisors, Inc.. © 2022 Southwest Multiple Listing Service, Inc.