About 317 Adams Street Se
This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes for the balance of the units.CORE AssetMeasures of investment performance at the ask price of $2,661,159 and current average rents of $792 a month are a GRM of 10.77, a 6.62% cap rate, $102,352 per unit, $204/sf, and an after tax internal rate of return is 13.20%And Value AddThe property is currently 24% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,023, the metrics of investment performance improve to a cap rate of 8.03% and a cash on cash of 8.98%.
Residential Income property for sale in Albuquerque, NM at 317 Adams Street Se. This Residential Income property is priced at $204/sqft
Features of 317 Adams Street Se
| MLS® # | 1074795 |
|---|---|
| Price | $2,661,159 |
| Bathrooms | 1.00 |
| Square Footage | 13,050 |
| Acres | 0.54 |
| Year Built | 1985 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Pending |
Community Information: Albuquerque
| Address | 317 Adams Street Se |
|---|---|
| Area | 42 - UNM South |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities of 317 Adams Street Se
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior of 317 Adams Street Se
| Interior | Carpet, Tile, Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior of 317 Adams Street Se
| Exterior Features | Landscaping |
|---|---|
| Construction | Frame, Stucco |
Additional Information On 317 Adams Street Se
| Date Listed | December 4th, 2024 |
|---|---|
| Days on Market | 50 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|