Four Unit Townhome Apartment Investment

Transcription

1 CORALEE QUINTANA -absolute.net Four Unit Townhome Apartment Investment Sale Price. $259,200 Building: 3200 SF Land: 0.18 Acres NOI: $22,812 Actual Cap Rate: 8.8% Features: Well Maintained Property NE Foothills Neighborhood Neutral Flooring and Paint East Facing Master Patio Fenced Private Backyards Downstairs Sunrooms The. information contained herein is believed to be reliable. While we do not doubt the accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

2 Monte Largo Dr. NE Property Location About the Location: This townhome property has a proven track record, easy access with nice city and mountain views and is ideally suited for the long term success and value for the owner. The property enjoys a higher income neighborhood in the Sandia foothills just north of I-40. Local businesses in the trade area include Smith s, Sprout s Market, ICON Cinema, Panda Express, and Jazmin Bakery, BBVA Compass Bank, Dollar Tree, Motel 6, Comfort Inn, Subway, McDonald s, Starbuck s, KFC and much more are all located within a half mile of the Property. SITE

3 Trade Area Trade Area Demographics Radius 1 Mile 3 Mile 5 Mile Population (2016 Estimate) 14,052 66, ,966 Avg HH Income (2016) $63,157 $65,665 $59,240 SITE

4 Investment Summary Absolute Investment Realty has been selected as the exclusive representative of this opportunity to purchase a fully leased townhome style four-plex including the land and building, located in the beautiful Northeast Heights residential area in Albuquerque, NM. This property enjoys an excellent occupancy history as all units have been rented shortly after a vacancy occurs. Landlord has invested in upgraded fencing, flooring, windows and doors. Purchase Summary: Ample Townhome Style Apartments Wrought Iron Security Doors Newer Double Pane Windows Neutral Carpet and Ceramic Tile Lovely East Facing Patios Sunrooms on Main Level Large Fenced Yards 10 Parking Spaces Quiet Residential Neighborhood Satellite TV on All Units Financial Summary Bedrooms SF Current Rent Market Rent Unit $ $ Units 2, 3 and $ $ Four Units $32,400 $38,400

5 Property Photos Lovely East Facing Master Patios Main Level Sunrooms Large Fully Fenced Yards Ten Parking Spaces

6 Albuquerque MSA Albuquerque is located in the Rio Grande Valley, and is shadowed by the majestic Sandia Mountains. The metro area has a population of approximately 887,000 people with a projected growth rate of 7.2 percent. Rio Rancho, with a population of 89,900 has experienced explosive growth of over 65% from 2, , is the fastest growing city in New Mexico and one of the fastest growing cities in the United States. Albuquerque MSA Demographics Population (2016 Estimate) 908,252 Households (2015 Estimate) 357,434 Avg. Household Income (2016 Estimate) $65,377 Albuquerque is home to the University of New Mexico (UNM) and the University of New Mexico Hospital (UNMH) which together employ 20,210 people. Kirtland Air Force Base and Sandia National Laboratories are also one of the biggest employers in the city at 23,000 people. Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande including Sandia National Laboratories, Intel, Raytheon and several other major high-tech employers. The city is noted as a center for health and medical services in the region, and government agencies, nuclear research, banking, and tourism are important to the economy. Albuquerque has a stable and growing technology base and boasts one of Intel Corp s largest manufacturing facilities. Albuquerque is host to the world famous Albuquerque International Balloon Fiesta which draws over 1,000,000 visitors per year. The city consistently wins awards for quality of life and is ranked as one of Forbes Best Cities for Business.