421 Harvard Dr SE Albuquerque, NM 87106 USA

Phoenix & Southwest + 2-4 Units

Created date: August 25, 2023

Date last updated: September 25, 2023

Upscale University area triplex with high end rents!

On behalf of the owner, NM Apartment Advisors Inc. and Deacon Property services are pleased to present this opportunity to acquire one of the most charming UNM Area Tri-plexes we’ve ever seen. Updated with the utmost care and attention – each apartment is wholly unique with distinct accommodating floor plans, outdoor living spaces, custom finishes, and artistic touches.

Units are separately metered – gas and electric. Units A and B share a private, recently updated laundry room. 421 ½ has its own washer / dryer. Residents love the romantic atmosphere and artisan work around every corner – stained glass accents, custom woodwork, built-ins, Talavera tile, meandering pathways, and extensive garden areas.

Top UNM market rents come easily with plenty of room for simple value add measures – like furnishing one or all units, including WiFi, or creating additional private yard spaces.

Located at 421 Harvard SE, this exception location puts the property within a mile of UNM Hospital & Presbyterian Hospital and just 4 blocks to UNM. 84 Walk Score. 83 Bike Score. Would you like to lower your effective Federal tax rate from 35% to 5%*? Please see page 6 for information on cost segregation and the benefits of the 2018 Tax Cut & Jobs act. * Investors must close by 12/31/2023 to receive this benefit as it decreases in 2024.

18 page flyer at http://www.nmapartment.com/apt/NMAA-Harvard421SE.pdf

Virtual tour at http://www.nmapartment.com/421harvard3d

Measures of investment performance at ask price of $556,936 and current average rent of $1,232 are a GRM of 12.95, a 5.67% cap rate, $183,645 per unit, $300/sf and an after tax IRR of 14.0%.

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.

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

and

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

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Key Property Information

Listing Status:	Available
Multifamily type:	2-4 Units
Price:	$556,936
No. of Units:	3
Cap Rate:	5.79%
GRM /GIM:	12.95
Year Built:	1925
Building Size:	1,856 Sq ft
Lot Size:	0.16 Acres
No. of Stories:	1
APN:	101605702504430503
Zoning Code:	R-T
Buy Side Fee:	2%
Opportunity Zone:	No
Price per unit:	$185,645
Property Website	Click Here

Unit mix

Description	No. of Units	Sq ft.	Avg. Monthly Rent
1br/1ba	2	623	1223
1br/1ba	1	610	1250

FINANCIAL DETAILS

Income/expense info:	Actual
Financial year:	2022
Gross income:	44340
Effective Gross income:	43010
Operating expenses:	11443
Net operating income:	31567
Pre-tax cashflow:	31567