2706 5th St NW Albuquerque, NM 87107

Renovated and Furnished North valley triplex priced below market comparables!

On behalf of the owners, NM Apartment Advisors is excited to bring to back market this rare opportunity to find a north valley fully furnished community for sale.  Located just west of Fourth Street and North of Menaul Boulevard at at 2706 5^th NW this property is close to both freeways and all three major central business districts as well as a short drive to the UNM/CNM campuses and the downtown medical cluster.

The property consists of a 78 year old house and two apartment units that have been renovated and furnished with style.

The location has a walk score of 73, transit score of 29 and a bikes score of 73 – no doubt a reflection on how close it is to the 2^nd street lenticular park/bike trails and the Bosque trails.

18 page flyer at http://www.nmapartment.com/apt/NMAA-5th2706NW.pdf

The owner has authorized to get this moved and has priced this property below the fifteen recent closed or pending sales indicate that include a value closer to $433,846.

Measures of investment performance at ask price of $429,000 and current average rent of $1,300 are a GRM of 9.17, a 6.78% cap rate, $143,000 per unit,  $341.29/sf.

If rents are raised to market for furnished units, with an average rent of $1,733, the measure of investment performance improve to a GRM of 6.88, and a cap rate of 9.79%.

Upgrades include: new windows, new architectural shingle roof, new electrical panel, sub-panel and rewiring all 3 units, new sewer line, new pex plumbing lines for all 3 units, insulation, 4 head mini split system 2 in Unit A, 1 in Unit B, and 1 in Unit C, new interior skim coat on all 3 units, new cabinets and vanities for all 3 units, new granite kitchen countertops and bathroom countertops for all 3 units, new exterior 3 coat stucco on both buildings, fully furnished all 3 units, new stainless steel appliances and stackable washer/dryer for all 3 units, new vinyl plank flooring in all 3 units, new tankless water heater for 2 units, new water heater for unit 1, new gravel and cedar plank fences for all 3 units, new exterior doors (4) and interior doors (6) for all 3 units, and 3 hardwired Arlo flood/security cameras. The property is currently used for short term rentals, which can continue, or the new owner can owner occupy or move to long term rentals.

Qualified investors can register for additional information by completing the online confidentially agreement at http://www.nmapartment.com/5th2706NW

Do not miss out on owning a north valley triplex that is ready for owner occupants and/or investors who want to choose their own residents.

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