2104 Lead SE
Multifamily | 8 Units | $77,486/unit
Marketing description
Subject: Amazing 8- few hundred feet to UNM and CNM campuses - potential cap rate of 8.71%
Good morning!
On behalf of the owners, NM Apartment Advisors and Deacon Property Services are excited to bring this quality University area eight-plex to market.
This is an excellent opportunity to own a quality UNM Area 8 unit apartment complex. Fantastic central location just blocks to CNM, UNM, Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park. This unique compound offers fluid access from Lead and a clean / well-traveled alley to the south. Ample parking is right next to unit entries. The property consists of six studios in a 3 story building and two 1 bedroom apartments in a single story duplex. Buildings have been updated for energy efficiency and resident comfort.
Located at 2104 Lead SE this eight unit community is property is walking distance to UNM and CNM, Smith's grocery store and dozens of restaurants, cafes, micro-breweries, & quality local retail—basically everything a young university student would need is close by!
Metrics of investment performance at the ask price of $619,887 and with average rent at $750 include a price per sf of $232, a price per unit of $77,846, a GRM of 8.61, cap rate of 6.54% and an after-tax internal rate of return of 17.1%.
If rents are raised to market average of $959, the measure of investment performance improve to a potential cap rate of 8.71%.
16 page flyer with rents, expenses, floorplans, photos and virtual tour can be found at http://www.nmapartment.com/apt/NMAA-Lead2104SE.pdf
View the virtual tour of one of the studio units at www.nmapartment.com/2104lead3d
Qualified buyers/investors can register for additional confidential information at www.nmapartment.com/lead2104
Buyers and Buyer’s broker can discover the Sellers concession to the Buyer that is offered for this property by email [email protected] with listing #2676104 in the subject line.
Couple this with the impact of the citywide expansion of Netflix, Facebook, and Amazon, as well as major announcements of new employment, this property is well-positioned to enjoy the forthcoming wave of appreciation and rent growth.
Do not miss out on owning such a solid, well-located UNM area gem.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
And
Kyle Deacon
Qualifying Broker
Deacon Property Services
(505) 878-0100
Investment highlights
- Excellent opportunity to own a quality UNM Area 8 unit apartment complex
- Fantastic central location just blocks to CNM, UNM, Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park
- This unique compound offers fluid access from Lead and a clean / well-traveled alley to the south
- Ample parking is right next to unit entries
- The property consists of six studios in a 3 story building and two 1 bedroom apartments in a single story duplex
- Buildings have been updated for energy efficiency and resident comfort
- Walking distance to UNM and CNM, Smith's grocery store and dozens of restaurants, cafes, micro-breweries, & quality local retail
- Coupled with the impact of the citywide expansion of Netflix, Facebook, Intel, and Amazon
- Well-positioned to enjoy the forthcoming wave of appreciation and rent growth
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