405 Dorado Ct SE

ABQ: Renovated Fourplex, ready for owner occupant – Singing Arrow Location

On behalf of the owners, NM Apartment Advisors is excited to bring this amazing opportunity to purchase a four-plex in the Singing Arrow Neighborhood.

The roof was replaced in November of 2020, and has an eight year transferable warranty. The Unit C furnace was replaced in October 2020, the Unit A’s hot water heater was replaced in October 2018, the Unit D’s dishwasher was replaced in February 2021, the Unit A’s stove was replaced in November 2020 as was the tub and shower surround. Unit C had the flooring (bedrooms only) replaced in April 2019.

A unit by unit summary of recent renovations includes:

Unit A: All new appliances, LVP flooring, countertops, mostly renovated September 2023

Unit B: All new appliances, LVP flooring, countertops, mostly renovated May 2022

Unit C: All new appliances, LVP flooring, countertops, mostly renovated Nov 2021

Unit D: All new appliances, LVP flooring, countertops, mostly renovated Mar 2023

At the current average rents of $1,010, and an ask price of $469,509 the measures of investment performance include a price per unit of $117,377, price per square foot of $148.29, a GRM of 9.68, an after reserves cap rate of 5.96%.

If rents are raised to the market average of $1,150, the measures of investment performance improve to a before reserves cap rare of 6.86%.

18 page information flyer is available at http://www.nmapartment.com/apt/NMAA-Dorado405SE.pdf

Virtual tour of Unit A, vacant and ready for an owner occupant is at www.nmapartment.com/dorado405se3d

Complete the online confidentially agreement for the property at www.nmapartment.com/405DoradoCt

This location is close to grocery, shopping and a movie theater. Convenient freeway access and great public transportation and bike path connections. The property is a short walk to the Singing Arrow Community Center that has before and after school programs.

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