317 Adams Street SE, Albuquerque NM 87108

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$2,661,159

317 Adams Street SE, Albuquerque, NM 87108

bedrooms

bathrooms

square feet

13,050

Acreage

0.54

Open Houses

year built

1985

Full Baths

Half Baths

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This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes for the balance of the units.CORE AssetMeasures of investment performance at the ask price of $2,661,159 and current average rents of $792 a month are a GRM of 10.77, a 6.62% cap rate, $102,352 per unit, $204/sf, and an after tax internal rate of return is 13.20%And Value AddThe property is currently 24% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,023, the metrics of investment performance improve to a cap rate of 8.03% and a cash on cash of 8.98%.

Location
Subdivision	-
County	Bernalillo
Elementary School	-
Middle School	-
High School	-

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MLS number: 1074795

Listing agent: Todd D Clarke #13711

Listing broker: Nm Apartment Advisors Inc. (505) 440-8633

Last update: Friday, December 6 2024 at 3:13 p.m. EST

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