3444 Eastern Ave SE

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Address: 3444 Eastern Ave SE, Albuquerque, NM 87106, USA
Created date: February 19, 2024
Date last updated: February 19, 2024

Upscale South University area fourplex with high end rents!

On behalf of the owner, NM Apartment Advisors Inc., PMI of NM, and Deacon Property Services are pleased to bring to market a great opportunity for a remodeled corner lot 4-plex in this up and coming South UNM neighborhood.

All 4 apartments have been modernized with care and an eye for resident comfort, convenience and security with secured outdoor storage and private yard spaces with brand new xeric landscaping and plenty of room for private outdoor living space. Other updates include thermal windows, new quality luxury vinyl plank flooring throughout, stacked washer / dryers in each unit, with updated appliances and fixtures throughout.

18 page marketing flyer can be viewed at http://www.nmapartment.com/apt/NMAA-Eastern3444SE.pdf

With Virtual tours at http://www.nmapartment.com/3deastern3444unit2

And

http://www.nmapartment.com/3deastern3444unit2

Measures of investment performance at ask price of $570,370 and current average rent of $1,038 are a GRM of 11.45, a 6.41% cap rate, $142,592 per unit,  $248/sf and an after tax IRR of 12.70%.

If rents are raised to market of $1,175 the measures of investment performance improve to a cap rate of 7.32%.

Apartments are separately metered and residents pay gas and electric. Very convenient location in up-and-coming south UNM / Edgecrest area—close to lots of exciting new development and expansion on the south side of Albuquerque, in addition to Burton Park, a community garden, UNM, CNM, Kirtland Air Force Base, and I-25.

Properties like this, in a market where amazing job growth from all of the new Netflix, Facebook,

Intel and Amazon jobs, go quickly. Do not wait as you will be honored to own this one.

Thanks,

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

And

Kyle Deacon

Qualifying Broker
Deacon Property Services
(505) 878-0100
[email protected]

 

And

 

Marvid Charlson

Qualifying Broker

Property Management & Investments of NM

(575) 652-4043

[email protected]

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: 2-4 Units
Price: $570,370
No. of Units: 4
Cap Rate: 6.41%
GRM /GIM: 11.45
Year Built: 1972
Year Renovated: 2023
Building Size: 2,326 Sq ft
Lot Size: 0.19 Acres
No. of Stories: 1
APN: 101605645605740411
Zoning Code: R-MH
Opportunity Zone: No
Price per unit: $142,593
Parking Spaces: 5
Property Website Click Here
Address: 3444 Eastern Ave SE, Albuquerque, NM 87106, USA

Additional contacts

Full name Phone number Email address
Kyle Deacon, QB, License #15579 505-878-0100 [email protected]
Marvid Charlson, QB, License #20397 575-652-4043 [email protected]

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