12612 Copperwood Dr NE, Albuquerque, NM 87123
NE Heights Fourplex – patiohome style units
On behalf of the owner, NM Apartment Advisors is excited to bring to market this downtown triplex.
This beautiful fourplex is like a series of side by side patio homes. Located in the NE heights, nestled just west of the stunning Sandia mountain foothills, this value add property also has potential for an owner occupant as two units are coming vacant in the near future.
Each unit has its own backyard space, washer/dryer hookups and kitchen area to the living space.
Do not miss out on this rare opportunity to own a investment asset in an area surrounded by new employment and development opportunities
13 page flyer can be found at - http://www.nmapartment.com/apt/NMAA-Copperwood12621NE.pdf
Measures of investment performance at ask price of $335,506 with a current average rent of $644 are a GRM of 10.86, a 4.99% cap rate before reserves, 4.72% cap rate after reserves, 14.80% after tax IRR, $83,877 per unit, and a price per sf of $98.68.
If all of the unit rents are raised to the market of $835, the measure of investment performance improve to a cap rate of 7.34%.
Do not wait, currently there are less then 10 fourplexes in the market for sale, and few that are in this kind of highly sought after location.
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
PS: Curious about how our market is going to experience double digit rent growth in 2021? Review our forecast at Forecast 2021 at http://www.nmapartment.com/zoomforecast2021