NM Apartment Advisors is excited to bring to market two side by side owner occupant quality triplexes in a shared gated community. These 1950s vintage Albuquerque apartment units are located near the VA hospital and the planned Thunderbird development at 1112 & 1116 Palomas SE, 87108.This is a core asset with stabilized cash flow and recent renovations, with large two bedroom units with hardwood floors, built-in washer/dryer, and covered parking.For 1112 Palomas SE - the Measures of investment performance at ask price of $300,000 for the triplex and current average rent of $780 are a GRM of 10.68, a 6.90% cap rate, $100,000 per unit, and $108.81/sf. If rents are improved to market average of $842, the measure of investment performance improve to a cap rate of 7.50%
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Listing information last updated on April 3rd, 2020 at 4:01pm MDT.