Each fourplex sits on its own parcel of land and can be acquired for $298,999.99. Owner would prefer to sell as a package and at the ask price of $597,997.98 and an average rent of $634 the measure of investment performance include a GRM of 9.83, a CAP rate of 5.72% (before reserves), a price per unit of $74,750a price per square foot of $116.61 an after tax IRR of 16.10%.If rents were to be raised to market of $750, the measures of investment performance improve to a GRM of 8.31, and a cap rate of 7.14% (before reserves).Each fourplex is priced aggressively - coming in at $10,000 under recent comparable sales, even though those sales have an average rent that is $87 lower than the subject property.
Listing courtesy of NM Apartment Advisors, Inc..
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