401 Georgia St SE, Albuquerque, NM 87108

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Address: 401 Georgia St SE, Albuquerque, NM 87108, USA
Created date: December 28, 2023
Date last updated: March 19, 2024

ABQ: Renovated Fourplex, ready for owner occupant with 5% down payment and seller financing

New Mexico Apartment Advisors is pleased to bring this fourplex to market.  Located at 401 Georgia St SE and on the hard corner of Zuni and Georgia, this fourplex is well positioned to take advantage of all of the new development in the area from Bernalillo County’s small housing community to the City of Albuquerque’s new International District Library, others are spending a lot of money in this area improving it.

 

Seller is willing to offer financing for an owner occupant (who must move into the property) with a 5% down payment 30 year amortization, 5.75% interest rate, 7 year balloon, subject to approval of the buyers credit report, financial statement and tax returns.

 

This fourplex contains two bedroom one bathroom units that are renting at $1,200. There are washer dryer hook-ups in each unit and the units are renovated.

 

At the current average rents of $1,200, and an ask price of $486,614 the measures of investment performance include a price per unit of $121,654, price per square foot of $160.49, a GRM of 8.45, an after reserves cap rate of 6.65%.

 

If rents are raised to the market average of $1,325, the measures of investment performance improve to a before reserves cap rare of 6.95%.

 

17 page information flyer is available at http://www.nmapartment.com/apt/NMAA-Georgia401SE.pdf

 

Virtual tour of Unit 3, vacant and ready for an owner occupant is at http://www.nmapartment.com/georgia401se3d

 

Complete the online confidentially agreement for the property at http://www.nmapartment.com/401georgia

 

Carpe Diem in a market with forecasted occupancy and rent growth due to the expansion of the three of the six FAANG Stocks investment in our marketplace (Facebook, Amazon, and Netflix), not to mention the announced Intel expansion.

 

Todd Clarke CCIM CIPS

CEO
NM Apartment Advisors Inc.
(505) 440-TODD

 

 

Key Property Information

Listing Status: Under Contract
Listing Type: Highest & best offer
Property Types: 2-4 Units
Price: $486,614
No. of Units: 4
Cap Rate: 6.65%
GRM /GIM: 8.45
Year Built: 1980
Year Renovated: 2023
Building Size: 3,032 Sq ft
Lot Size: 0.16 Acres
No. of Stories: 2
APN: 101805641652312811
Zoning Code: R-ML
Opportunity Zone: No
Price per unit: $121,654
Property Website Click Here
Address: 401 Georgia St SE, Albuquerque, NM 87108, USA

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