On behalf of the owner, NM Apartment Advisors Inc., and PS Properties are pleased to present this opportunity to acquire ten architecturally unique two-bedroom units in the centrally located Alta Monte neighborhood. The building was designed by the legendary Albuquerque-based architect Bart Prince, one of the foremost international practitioners of organic architecture. Gated and fenced, the building offers secure resident parking. A central courtyard provides a gathering place. Recent improvements during the last two years include seven new gas furnaces, a partial roof replacement, re-stuccoing, exterior paint and a laundry room upgrade. Measures of investment performance at ask price of $825,000 and current average rents of $739 are a GRM of 9.31, a 6.97% cap rate, IRR =18.60%
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Listing information last updated on January 28th, 2020 at 3:42am MST.