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NM Apartment Advisors and PS Properties are excited to bring this 25 unit courtyard style community to market. The property, located at 8600 Zuni SE, contains 24 one bedroom units and one two bedroom unit + an abundance of extra storage all on a 0.997 acre lot.Although recent renovations have been done, this investment is a value add opportunity.Measures of investment performance at ask price of $939,963 and current average rent of $508 are a GRM of 6.17, a 8.35% cap rate, $37,599 per unit, $61.34/sf and a before tax IRR of 20.30% and an after tax IRR of 16.00%.If rents are raised to submarket average of $655, measures of investment performance increase to a GRM of 4.78, a 12.07% cap rate and a 25.35% cash on cash.
Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
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Listing information last updated on January 25th, 2020 at 4:13am MST.