2104 Lead Ave SE
2104 Lead Ave SE, Albuquerque, NM, 87106
ID 7e5e1749
Overview
Subject: Amazing 8- few hundred feet to UNM and CNM campuses – 9.01% cap rate – BID process offer deadline 10/8 Good morning!On behalf of the owners, NM Apartment Advisors and Deacon Property Services are excited to bring this quality University area eight-plex to market. This is an excellent opportunity to own a quality UNM Area 8 unit apartment complex. Fantastic central location just blocks to CNM, UNM, Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park. This unique compound offers fluid access from Lead and a clean / well-traveled alley to the south. Ample parking is right next to unit entries. The property consists of six studios in a 3 story building and two 1 bedroom apartments in a single story duplex. Buildings have been updated for energy efficiency and resident comfort. Located at 2104 Lead SE this eight unit community is property is walking distance to UNM and CNM, Smith's grocery store and dozens of restaurants, cafes, micro-breweries, & quality local retail—basically everything a young university student would need is close by! Start PriceThat start price is about the same as the average ABQ fourplex - metrics of investment performance at the ask price of $450,000 and with average rent at $750 include a price per sf of $169, a price per unit of $56,250, a GRM of 6.25, cap rate of 9.01% and an after-tax internal rate of return of 23.3%. If rents are raised to market average of $959, the measure of investment performance improve to a potential cap rate of 12.42%. 16 page flyer with rents, expenses, floorplans, photos and virtual tour can be found at http://www.nmapartment.com/apt/NMAA-Lead2104SE.pdf View the virtual tour of one of the studio units at www.nmapartment.com/2104lead3d BID Process/timelineThe property tour is noon on Tuesday, October 6th – register at www.nmapartment.com/lead2104(this also provide access to the confidential document center)Offer deadline is noon no Thursday, October 8th. Qualified buyers/investors can register for additional confidential information at www.nmapartment.com/lead2104 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 #2676104 in the subject line. Couple this with the impact of the citywide expansion of Netflix, Facebook, 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 miss out on owning such a solid, well-located UNM area gem. Thanks,Todd Clarke CCIM CIPsCEONM Apartment Advisors Inc.(505) 440-TODD And Kyle DeaconQualifying BrokerDeacon Property Services(505) 878-0100
