1322 & 1322.5 Fairhaven Ave SW

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Address: 1322 Fairhaven Ave SW, Albuquerque, NM 87105, USA
Created date: July 8, 2024
Date last updated: July 8, 2024

New to market – amazing price point of $216,063 with 2 large 3 bedroom units – proforma cap of 9.31%

On behalf of the owners, NM Apartment Advisors is honored to bring to market a rare opportunity to acquire a South Valley investment with two houses on one lot.  Located at 1322 and 1322 1/2 Fairhaven and just a few minutes drive to Old Town and Downtown, this well located property is also just steps from North America’s largest bosque forest along the Rio Grande River.

The property offers two spacious three bedroom homes that are currently on month to month leases.

The unit mix includes:

  • Unit 1322 is a 1,136 square foot 3 bedroom / 1 bath unit
  • Unit 1322 ½ is a 923 square foot 3 bedroom / 1 bath unit

 

Besides the spacious units, the main amenity for this property is the quiet and serene location just west of the Rio Grande River trails.

14 page flyer at http://www.nmapartment.com/apt/NMAA-Fairhaven1322.pdf

 

Measures of investment performance at ask price of $216,063 and average rents, as of $975 are a GRM of 9.23, a 5.50% cap rate, $108,031 per unit,  $104.94/sf and an after tax IRR of 11.1%.

If rents are raised to market rents of $1,350, the measure of investment performance improve to a GRM of 6.67, and a cap rate of 9.31%.

Full inspection reports are available to qualified investors and/or owner occupants who complete the online confidentially agreement at http://www.nmapartment.com/1322FairhavenSW

 

Do not wait out on this rare opportunity to acquire in an market with a significant housing shortage from all of the new Netflix, Amazon, Facebook(Meta) and Intel jobs, that has made the Greater Albuquerque Metro Area one of the top markets in the country for rent growth.

 

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

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

 

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $216,063
No. of Units: 2
Cap Rate: 5.73%
GRM /GIM: 9.23
Year Built: 1939
Building Size: 2,059 Sq ft
Lot Size: 0.16 Acres
No. of Stories: 1
APN: 101305605841321018
Zoning Code: ?
Buy Side Fee: 3%
Opportunity Zone: No
Price per unit: $108,032
Parking Spaces: 6
Property Website Click Here
Address: 1322 Fairhaven Ave SW, Albuquerque, NM 87105, USA

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