12229 Menaul Blvd NE

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Address: 12229 Menaul Blvd NE, Albuquerque, NM 87112, USA
Created date: December 7, 2023
Date last updated: December 7, 2023

New to market – FAR NE heights triplex with large owners unit and garage

On behalf of the owners, NM Apartment Advisors is excited to bring to market this amazing, pride-of-ownership Northeast heights triplex.

Located just a few blocks west of the Sandia mountain foothills at 12229 Menaul NE, the unit mix includes:

– Unit A is a 1,274 square foot, 3 bedroom / 2 bathroom with a 2 car garage.

– Unit B is a 1,100 square foot, 2 bedroom, 1bathroom home.

– Unit C is a 829 square foot, 2 bedroom, 1 bathroom home.

Each residence has its own private area and/or backyard.

 

Besides the spacious units, the main amenity for this property is the quiet and serene NE Heights neighborhood close  to foothills trails and shopping.

16 page flyer at http://www.nmapartment.com/apt/NMAA-Menaul12229NE.pdf

 

Measures of investment performance at ask price of $579,429 and average rents, as of 2/1/2024, of $1,325 are a GRM of 12.15, a 5.25% cap rate, $193,143 per unit,  $186/sf and an after tax IRR of 13.2%, with the potential to lower an investors effective federal tax rate from 35% to 5%. (ask listing broker for additional details and/or zoom video/powerpoint).

If rents are raised to market rents of $1,633, the measure of investment performance improve to a GRM of 9.85, and a cap rate of 6.62%.

Do not wait, the market inventory is very low in owner occupant properties like this amazing triplex

Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: 2-4 Units
Price: $579,429
No. of Units: 3
Cap Rate: 5.36%
GRM /GIM: 12.15
Year Built: 1977
Building Size: 3,107 Sq ft
Lot Size: 0.19 Acres
No. of Stories: 1
APN: 102205943630110604
Zoning Code: R-T
Buy Side Fee: 3%
Opportunity Zone: No
Price per unit: $193,143
Property Website Click Here
Address: 12229 Menaul Blvd NE, Albuquerque, NM 87112, USA

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