1307 Paseo del Pueblo Norte
Taos portfolio – 38 units in 4 properties 7.33% cap rate
On behalf of the owners, Todd Clarke at NM Apartment Advisors and Michael Mulcahy of Cielo Grande Management are pleased to bring this apartment portfolio to market in the high end ski, arts, and cultural mecca of Taos NM. These properties are offered for the first time in over a generation and the owners are willing to consider individual sales or a portfolio sale. The properties are offered with a fixed date for offers.
Each of the properties offers something amazing include:
V-122 Morada – 6 units adjacent to Kit Carson park – $525,000 – 8.28% cap rate
S – 111-113 Elidio – 9 units walking distance to the Plaza – $495,000 – 9.0% cap rate
W -1015-1021 Calle De Oro – 20 units near Wal-Mart – $1,520,000 – 8.04% cap rate
E- 1309A Paseo Del Pueblo Norte – 3 unit mixed use property with main street frontage – $373,000
The combined start price for the portfolio is based on a 2020 appraisal for the estate at $2,913,000
The owner has priced these deals under market comparable sales to ensure an expedited closing.
The 32 page flyer at http://www.nmapartment.com/apt/NMAA-calle1015Taos.pdf
Timeline of events for the BID process:
Both properties will be featured in a zoom meeting/overview on Tuesday November 7th, 2023 at noon.
- Qualified Investors can register for the zoom meeting and receive copies of inspections and appraisals for each property by registering at http://www.nmapartment.com/taosportfolio
2. The offer deadline is noon on Thursday, November 9th, Offers received prior to that date will not receive a response until after the offer deadline. Offers received prior to that date with an expiration prior to Monday, November 13th, 2023, will not receive a response. Please do not ask what it would take to take the property off the market as the owner is dedicated to using the BID process and letting the market interest determine the final price.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
And
Michael Mulcahy
Qualifying Broker/Property Manager
Cielo Grande Management
575-770-8434
www.CGMTaos.com
Tax Savvy investors are taking benefit of the cost segregation + 2018 tax cuts & job act to garner amazing tax shelter on a Federal level. Said benefit decreases from 100% to 80% on 1/1/2024. More at http://www.nmapartment.com/resources/00-NMAA-Tax2018ActandCostSegregationExample-v2-11032022
And zoom video presentation overview at http://www.nmapartment.com/cretaxbenefits
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Multifamily type: | 2-4 Units |
| Price: | $373,000 |
| No. of Units: | 3 |
| Cap Rate: | 5.87% |
| GRM /GIM: | 11.51 |
| Year Built: | 1956 |
| Building Size: | 4,836 Sq ft |
| Lot Size: | 0.97 Acres |
| No. of Stories: | 2 |
| APN: | 1074150298475 |
| Zoning Code: | HC |
| Opportunity Zone: | No |
| Price per unit: | $124,333 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| Office | 1 | 1779 | 1200 |
| Storage | 1 | 1780 | 816 |
| 3br/1ba | 1 | 1277 | 800 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Michael Mulcahy | 575-770-8434 | [email protected] |
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