923 Alvarado Dr SE
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
923 Alvarado Dr SE
8 Unit Apartment Building $1,830,929 CAD ($228,866 CAD/Unit) 6.48% Cap Rate Albuquerque, NM 87108
Executive Summary
New to Market, side by side fourplexes with average rents of $1,400 and Seller financing with 20% down and a 4.9% interest rate
New Mexico Apartment Advisors is pleased to bring this fourplex to market. Located at 919-923 Alvarado SE these fourplexes are well positioned to take advantage of all of the new development in the area from the new ACS headquarters, to the Max-Q development and so much more.
Each fourplex contains two bedroom one bathroom units that are renting at between $1,300 to $1,800 with an average of $1,400. Each renovated unit has washers/dryers and the belong to the owner and convey with the property.
At the current average rents of $1,400, and an ask price of $1,276,736 the measures of investment performance include a price per unit of $159,592, price per square foot of $185.03, a GRM of 9.50, an after reserves cap rate of 6.48% and a cash on cash of 6.75%.
If rents are raised to the market average of $1,800, the measures of investment performance improve to a before reserves cap rate of 7.50% and a cash on cash of 11.08%, even if property taxes are increased to 85% of the list price (from $8,026 to $21,875).
Financing for the Investor
Seller is willing to offer financing for an investor with a 20% down payment 30 year amortization, 4.95% interest rate, 7 year balloon, subject to approval of the buyers credit report, financial statement and tax returns.
18 page information flyer is available at http://www.nmapartment.com/apt/NMAA-Alvarado919923SE.pdf
Complete the online confidentially agreement for the property at http://www.nmapartment.com/alvarado
Do not miss out on an opportunity to secure seller financing in one of the top rental markets in the country.
Thanks,
Todd Clarke CCIM CIPS
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
New Mexico Apartment Advisors is pleased to bring this fourplex to market. Located at 919-923 Alvarado SE these fourplexes are well positioned to take advantage of all of the new development in the area from the new ACS headquarters, to the Max-Q development and so much more.
Each fourplex contains two bedroom one bathroom units that are renting at between $1,300 to $1,800 with an average of $1,400. Each renovated unit has washers/dryers and the belong to the owner and convey with the property.
At the current average rents of $1,400, and an ask price of $1,276,736 the measures of investment performance include a price per unit of $159,592, price per square foot of $185.03, a GRM of 9.50, an after reserves cap rate of 6.48% and a cash on cash of 6.75%.
If rents are raised to the market average of $1,800, the measures of investment performance improve to a before reserves cap rate of 7.50% and a cash on cash of 11.08%, even if property taxes are increased to 85% of the list price (from $8,026 to $21,875).
Financing for the Investor
Seller is willing to offer financing for an investor with a 20% down payment 30 year amortization, 4.95% interest rate, 7 year balloon, subject to approval of the buyers credit report, financial statement and tax returns.
18 page information flyer is available at http://www.nmapartment.com/apt/NMAA-Alvarado919923SE.pdf
Complete the online confidentially agreement for the property at http://www.nmapartment.com/alvarado
Do not miss out on an opportunity to secure seller financing in one of the top rental markets in the country.
Thanks,
Todd Clarke CCIM CIPS
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Property Facts
| Price | $1,830,929 CAD | Apartment Style | Low Rise |
| Price Per Unit | $228,866 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 6.48% | Building Size | 6,960 SF |
| Gross Rent Multiplier | 9.5 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 2.01/1,000 SF |
| Price | $1,830,929 CAD |
| Price Per Unit | $228,866 CAD |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 6,960 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2.01/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Double Pane Windows
Site Amenities
- Basketball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
1 of 1
Walk Score ®
Very Walkable (73)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 1-018-056-121237-3-23-07 | Improvements Assessment | $115,623 CAD |
| Land Assessment | $11,490 CAD | Total Assessment | $127,113 CAD |
PROPERTY TAXES
Parcel Number
1-018-056-121237-3-23-07
Land Assessment
$11,490 CAD
Improvements Assessment
$115,623 CAD
Total Assessment
$127,113 CAD
zoning
| Zoning Code | R-ML (Residential with low density multi-family) |
| R-ML (Residential with low density multi-family) |
1 of 8
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
923 Alvarado Dr SE
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.