Ross Avenue eight-plex

 Edgecrest area 2 x fourplexes + extra lot

3436-3440 Ross SE is located just north of the Max-Q development, the Carlisle entrance to Sandia National laboratories/Kirtland Air Force Base and just east of the Puerta Del Sol Golf Course.  New retail developments in the Gibson corridor (just a few blocks west) include a Dutch Brothers, Taco del Sol, and other national chain restaurants.

With community gardens and a public golf course in the area, the property also has a 89 bike score, 42 walk score and 22 transit score.

A 18 page information flyer for the property can be viewed at http://www.nmapartment.com/apt/NMAA-Ross34363440SE.pdf

Measures of investment performance at ask price of $746,778 and current average rent of $666 are a GRM of 11.69, a 4.58% cap rate, $93,347 per unit,  $122.18/sf. Nine recent closed or available sales indicate a value closer to $696,278+$50,000 for the lot and a total of $746,278.  The cap rate is closed to 5.0% if we compare the income producing portions of the property ($696,778) to the net income of $34,189, leaving the extra land as a developable asset that could be sold or built upon.

On behalf of the owners, NM Apartment Advisors is excited to bring to market this rare opportunity to find two side by side fourplexes with an extra lot in the Edge crest area.

In addition to the extra lot valued at – $50,000 to $75,000 the property has 8 storage units and refrigerated air conditioning.

Qualified investor/buyers can gain access to confidential information on the property by completing the online confidentially a http://www.nmapartment.com/3440RossSE

Do not miss out on this opportunity to buy a core asset in a market with strong economic growth from all of the new Netflix, Facebook, Intel, and Amazon jobs that have created a housing shortage that has led to double digit annual rent growth.

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