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12612 Copperwood Drive NE

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Address: 13612 Copperwood Dr NE, Albuquerque, NM 87123, USA

Phoenix & Southwest + Apartment Buildings

Created date: August 21, 2024

Date last updated: August 21, 2024

NE heights Townhouse style fourplex with seller incentive to buyer to buy down interest rate

On behalf of the owner, NM Apartment Advisors and Deacon Property Services are excited to bring to market this townhome style fourplex in the near northeast heights close to foothills trails, I-25, Kirtland Air Force Base, and great local shopping & restaurants.

The property contains four, large two-story townhouse style apartment homes with bedrooms upstairs, flexible living areas, and large kitchens downstairs. All units include spacious utility closets for extra storage w/ full size washer / dryer sets included. They also feature unique, very private backyards and patio spaces.

Three of the four units have been significantly updated in the last few years with vinyl plank flooring and newer fixtures and finishes. Units C and D boast an additional ½ bathroom downstairs with more recent contemporary updates including granite tile counters in the kitchens and updated bathrooms. Each apartment is unique and each offers its own, simple pathway towards further value-add upgrades.

Each apartment is also separately metered for gas and electric. Large parking lot accommodates plenty of off street parking – 2 vehicles per unit plus guest parking. Secure cul-de-sac location for added safety and minimized traffic flow. And there’s a brand new TPO roof installed May of 2024 with transferrable warranty.

Generous Seller Concession to Buyer for financing

The Sellers are willing to offer up to $22,139.62 in credits to a buyer who secures an FHA owner occupant loan. According to lender, Tami Rodgrers at Sentinel Mortgage this could drive the interest rate down to 4.99% for 30 years (See page 4). (Please note, the maximum lender allowed buy-down, between the $22,139.62 offered by the seller and a buyer who self-represents is 6% of the purchase price).

18 page flyer at http://www.nmapartment.com/apt/NMAA-Copperwood12612NE.pdf

Measures of investment performance at ask price of $523,943 and average rents of $1,055 are a GRM of 10.35, a 6.21% cap rate, $130,986 per unit, $146/sf.

If rents are raised to market rents of $1,213, the measure of investment performance improve to a GRM of 9.00, and a cap rate of 6.33%.

Qualified investors or owner-occupants can complete the online confidentially agreement at http://www.nmapartment.com/12612Copperwood to gain access to additional confidential info on the property.

Buyer’s and Buyer’s brokers – email [email protected] with the subject line of: NMAA-2467612 to discover the concession the Seller is offering the Buyer if they choose to compensate their Buyer’s broker.

Do not miss out on this opportunity to buy a core asset in a market with strong economic growth from all of the new Netflix, Facebook, Intel, and Amazon jobs that have created a housing shortage that has led to double digit annual rent growth.

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

And

Kyle Deacon
Qualifying Broker

Deacon Property Services LLC
(505) 878-00100
[email protected]

Available

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$523,943
No. of Units:	4
Cap Rate:	6.38%
GRM /GIM:	10.35
Year Built:	1979
Year Renovated:	2023
Building Size:	3,596 Sq ft
Lot Size:	0.18 Acres
No. of Stories:	2
APN:	102205723827220745
Zoning Code:	R-ML
Buy Side Fee:	2%
Opportunity Zone:	No
Price per unit:	$130,986
Parking Spaces:	?
Property Website	Click Here