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NM Apartment Advisors is excited to bring to market a high return, well positioned, and updated fourplex to market.Located at 1109 Louisiana SE, and just north of the intersection of Gibson and Louisiana and the one of the main entrances to Kirtland Air Force Base. Built in 1953, this four-unit community contains spacious two bedroom, one bathroom units with updated bathrooms and a large walk in closet.Priced at $225,000 or $79/sf or $56,250 per unit, the ask price is a bit less than the comparable sales of $227,644, but more importantly, based on the current average rents of $645 per month, the property's measures of investment performance include a 7.27 GRM, 8.02% cap rate before reserves, a before tax IRR of 19.50% and an after tax IRR of 15.40%.
Electricity Connected, Natural Gas Connected, Sewer Connected
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Listing information last updated on May 19th, 2019 at 2:13pm MDT.