907 Coal Ave SW
907 Coal Ave SW, Albuquerque, NM, 87102
ID 3976d978
Overview
Subject: Downtown Fourplex – proforma cap rate of 8.74% Good afternoon! NM Apartment Advisors Inc. and Deacon Property Services are excited to bring to market this well located downtown fourplex. Located at 907 Coal SW and within walking distance of all that downtown Albuquerque has to offer—hundreds of restaurants, shops, and cultural amenities. The property is also a short bike ride to the Old Town Plaza as well as three area hospitals and the UNM/CNM campuses. The property contains two large two-bedroom units (one with washer / dryer included and one with hookups), a small one bedroom eagle’s nest 2nd floor apartment, and a medium-sized two bedroom casita that also includes a washer / dryer. Each apartment offers a unique floor plan with eclectic character touches and updates. Based on the current average rents of $1,185 per month, and an ask price of $530,000, the property’s measures of investment performance include a 9.32 GRM, 5.99% cap rate before reserves, before tax IRR of 19.60% and an after-tax IRR of 15.90%. Built in upside: Page 5 demonstrate a handful of sales that support an as-is value of $557,270. If rents were raised to market average of $1,492, the measures of investment performance improve to a 8.74% cap rate, and an outstanding 12.13% cash on cash. 17 page flyer and additional information at http://www.nmapartment.com/apt/NMAA-Coal907SW.pdf Buyers and Buyer’s broker can discover the Sellers concession to the Buyer that is offered for this property by email compensation@nmapartment.com with listing # 2567907 in the subject line. This fourplex is located in an outstanding west downtown submarket that continues to set the bar on quality revitalization and tenant demand. Coupled with the impact of the citywide expansion of Netflix, Facebook, Intel, and Amazon, as well as major announcements of new employment, this property is well-positioned to enjoy the forthcoming wave of appreciation and rent growth. Do not wait, owner occupant quality multifamily properties in such outstanding locations are few and far between! Thanks,Todd Clarke CCIM CIPsCEONM Apartment Advisors Inc.(505) 440-TODD AndKyle DeaconDeacon Property Services(505) 878-0100
