This property is well located within walking distance to a movie theater, two grocery stores, and a dozen restaurants and is just off the major loop for mass transit.Four by two bedroom one bathroom units with wood burning fireplaces make for cozy living spaces. The downstairs units have private patio/backed areasAt the ask price of $269,545 and an average rent of $660 the measure of investment performance include a GRM of 8.51, a CAP rate of 6.42% (before reserves), a price per unit of $67,386 a price per square foot of $79.28 an after tax IRR of 17.90%.If rents were to be raised to market of $686, the measures of investment performance improve to a GRM of 8.19, and a cap rate of 7.35% (before reserves).
Listing courtesy of NM Apartment Advisors, Inc..
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