NM Apartment Advisors is excited to have listed this fabulous owner occupant style fourplex at 916 Alcazar NE with large unit. Property has an amazing location - walking distance to Expo NM, the NM State Fair, and biking distance to Uptown good walk (50), bike (60), and transit (40) scores. Built in 1976, the property has been well maintained and kept a lot of its original charm.At the ask price of $334,880 and an average rent of $688 the measure of investment performance include a GRM of 10.15, a CAP rate of 5.60%, a price per unit of $83,720, a price per square foot of $102.16 and an after-tax IRR of 16.40%.If the rents are raised to market average of $710 the measure of investment performance improved to a GRM of 9.83, a CAP rate of 6.00%.
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Listing information last updated on December 13th, 2019 at 4:56pm MST.