Property Description

CORE AssetMeasures of investment performance at the ask price of $5,317,173 and current average rents of $914 a month are a GRM of 9.69, a 6.63% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 16.8%And Value AddThe property is currently 20.3% below market rents at the adjoining, siter property 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 $1,338, the metrics of investment performance improve to a cap rate of 11.51% and a cash on cash of 19.20%.This community is located facing Zia park and Zia Elementary school and within walking distance of the Nob Hills 80+ restaurants. The property is also within biking distance of the University of NM and sits betw

Property Features