715 Fruit Ave NW

Overview

RE: Cute as a button with white picket fencing, well located fourplex, walking distance to the downtown core and biking distance to Old Town Plaza On behalf of the owners, NM Apartment Advisors and Maestas Real Estate Services are pleased to present this charming downtown fourplex. Cute as a button with white picket fencing, this well located fourplex, walking distance to the downtown core and biking distance to Old Town Plaza. This unique fourplex offers charm and character in a prime location just minutes from the energy of Downtown and Old Town Albuquerque for the owner occupant or renter.OWNER OCCUPANTS - The front house is available for showings with SWMLS lock box. The unit mix consists of (1) studio unit, (2) 1BR / 1BA units, and a larger main residence with one 2BR / 1BA unit.  Alley and on street parking is available to the residents. The property includes a separate laundry room, high speed internet and camera system.  Each unit has stunning hardwood floors and the front units have vaulted ceilings. With an average rent of $1055, metrics of investment performance at the ask price of $612,369 include a GRM of 12.09, a cap rate of 5.41%, a price per sf of $2230.21, a price per unit of $153,092 with an after-tax IRR of 11.80%. If rents are raised to market rents of $1,295, the potential cap rate increases to 6.78%. 24 page marketing flyer can be downloaded at http://www.nmapartment.com/apt/NMAA-Fruit715NW.pdf Virtual tours of each unit are available at:Main house - http://www.nmapartment.com/715fruit3d2Side unit - http://www.nmapartment.com/715fruithalfUnit A -http://www.nmapartment.com/fruit715a3dUnit B -http://www.nmapartment.com/fruitb7153d Qualified buyers can access the Seller compensation to Buyer by email compensation@nmapartment.com with NMAA-2570715 in the subject line and the confidential document center by completing the online confidentiality agreement at http://www.nmapartment.com/715fruit Disclosure: co-listing broker, Todd Clarke, has an ownership interest in the property. Do not miss out on this opportunity to be an owner occupant or investor in a market with strong job growth and a housing shortage from all of the new Netflix, Facebook/Meta, Amazon, Intel and other jobs. Thanks,Todd Clarke CCIM CIPsCEONM Apartment Advisors Inc.(505) 440-TODD andAnita Maestas Owner & Qualifying Broker Maestas Real Estate Services, Inc.www.maestasrealty.com505.463.3565