533 Valencia Dr SE

Overview

Amazing owner occupant triplex or Owner Occupant – courtyard style housing - $331,592On behalf of the owners, NM Apartment Advisors and Maestas Rea Estate Services are pleased to present this gem of a triplex which includes well lit off street parking, private patios and an attractive shared colonnade courtyard.Located at 537 Valencia SE, this stunning community oozes charm with lush landscaping, brick sidewalks and is a community that is walking distance to multiple parks, retail establishments, and restaurants.This triplex offers off-street parking, private street-facing patio, a charming shared colonnade courtyard, Solatube tubular skylights for abundant natural light, and dedicated buried tool storage for each building. Each of the rear buildings includes buried tool/storage areas. These are accessed via a metal lid visible in the rear photos and provide convenient, secure storage for owners.The owner has made many recent improvements and upgrades including a new roof (2022), new driveways and sidewalks (2024). On the interior side, he has fully renovated Apartment 537 #3, which now includes a dedicated laundry room with built-in cabinetry. Apartment 533 #6 also has a laundry room along with updated kitchen cabinets. Apartment 537-#1 has a washer hookup in the kitchen, while Apartment 537 #2 offers a full washer/dryer hookup. Units 4 and 5 do not have in-unit laundry hookups.Current rents average $825, which leaves a long runway to increase value by raising rents closer to the market average of $975.The owner also owns the adjoining property at 533 Valencia SE which can be made available for $331,592.With a start price of $331,592 and an average rent of $825 the metrics of investment performance are a GRM 11.16, 6.11% cap rate, IRR after tax 11.7%.This is the type of property that feels more like housing than apartments — a feature many residents value.16 page flyer on the property can be viewed at http://www.nmapartment.com/apt/NMAA-Valencia533SE.pdfBuyers can discover the Seller's concession to Buyer, then can use to Buyer's broker by emailing compensation@nmapartment.com with NMAA-2686537 in the subject line.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.