My owner has requested I get this beautiful 5 unit apartment community moved - and they have priced it below the comparable sales. The property contains an Victorian house split into 2 units + rear triplex, in in amazing neighborhood with high walk (84), bike (90) and transit (56) score.The new offering price is $369,750.Measure of investment performance at average rent of $591 include a GRM of 10.98, a before reserves CAP Rate of 6.43%, and a before tax IRR Of 13.40%. If rents were raised to the market average of $698, the measure of investment performance increase to a cap rate of 7.79%, and a 10.60% Cash on cash.
Listing courtesy of NM Apartment Advisors, Inc..
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