This property contains 4 x 2 bedroom, 1 bathroom units and 2 x 1 bedroom, 1 bathroom units. The owner has done an amazing job in renovations and the property shows well (check out the virtual tour below)/.Priced below market comparables at $503,7506 and at the list price of $457,332 with an average rent of $638, measures of investment performance include a GRM of 9.96, a before reserves cap rate of 6.63% and an after-tax Internal Rate of Return (IRR) of 18.60%. If rents are raised to the market average of $838, measure of investment performance improve to a cap rate of 9.32% and a cash on cash of 16.65%.
Courtesy of: NM Apartment Advisors, Inc. Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing. Updated: 23rd March, 2023 4:52 AM (UTC)