130 Rhode Island SE

Recently renovated fourplex – 6.04% actual cap, 11.35% proforma cap

NM Apartment Advisors and EA Property Management is excited to bring back to market this recently renovated fourplex located at 130 Rhode Island SE.

130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%.  If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%

In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.

Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investors who register for additional info at www.nmapartment.com/rhode130

22 page marketing flyers including rent rolls, APOD, comparable sales, 5 year projection and more can be found at:

130 Rhode Island SE – http://www.nmapartment.com/apt/NMAA-RhodeIsland130SE.pdf

Virtual tours of 130 Rhode Island SE can be viewed at:

http://www.nmapartment.com/130rhode3dUnitA

Additional information available to those buyers who complete the online confidentiality agreement

www.nmapartment.com/rhode130

Did you know that the average fourplex sales price of $408,808 reflects an appreciation of 84.8% between 2017 to today? Strong rent growth is driving appreciation faster than inflation can keep up.  Do not wait – fourplexes that prices are at a historic high and on a blazing path of appreciation due to the new Amazon, Netflix, Facebook and Intel employment announcements.

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.

[email protected]

(505) 440-TODD

And

Blake Levrets

Qualifying Broker

EA Property Management

[email protected]

(505) 485-1420