This property is well located within walking distance to a movie theater, two grocery stores, and a dozen restaurants and on the major loop for mass transit.Four by two bedroom one bathroom units with common area laundry room.At the ask price of $275,968 and an average rent of $618 the measure of investment performance include a GRM of 9.31, a CAP rate of 6.43% (before reserve), a price per unit of $68,992, a price per square foot of $80.32 an after-tax IRR of 17.40%.If rents were to be raised to market of $686, the measures of investment performance improve to a GRM of 8.38, and a cap rate of 7.36%.Do not wait - with 29% historical appreciation in the fourplex market, and more PENDING listings than available, this one is not likely to be on the market very long.
Listing courtesy of NM Apartment Advisors, Inc..
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