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southeast heights 4
southeast heights 4-plex | FOr Sale Custom Map P r o p erty 1 Building (4 Units) L an d ±.16 Acre Zoning C-1 B en e f i ts Strong Historical Occupancy Rates 40 Lomas Blvd. Central Av Juan Tabo Blvd. $158,900 San Mateo Blvd. Price Louisiana Blvd. P RO P ERTY DETAI L S Wyoming Blvd. 142 Rhode Island St. SE | Albuquerque, NM 87108 e. Full Appliance Packages Throughout Gibson Blvd. Kirtland Air Force Base H istorically low Financing Rates (4-4.5%) 25 Q ualifies for Residential Financing! 505.878.0001 6801 Jefferson NE, Suite 200 Albuquerque, NM 87109 www.gotspaceusa.com Cole Flanagan December 21, 2012 ©2012 Esri cole@gotspaceusa.com 505 235 7585 Made with Esri Business Analyst www.esri.com/ba 800-447-9778 Try it Now! Page 1 of 1 southeast heights 4-plex | FOr Sale SALE PRICE $158,900 P RICE PER UNIT $39,725 NOI $13,500 CAP RATE 8.5% TOTAL UNITS 4 YEAR B UI LT Unknown TERMS Cash to Seller As of December 1, 2012, there have been over $80 million in apartment sales with $20 million more under contract. Property Overview 142 Rhode Island SE is a well located small investment opportunity in the Kirtland Air Force Base area. The property has excellent access to Interstate 40 and Central Avenue, both of which are major roadways in and through Albuquerque. This 4-plex has a 10-minute drive to the University of New Mexico, hospitals, shopping malls, food, and entertainment. The property is a two-story, 4-unit multifamily investment that is perfect for an investor or for a residence with an additional income stream. The units are all 2br, 1ba apartments that are equipped with a full kitchen. The apartments share a fenced yard on the west and south side of the building, a secure laundry room, and storage units on the east end of the property. The apartments are heated with gas forced air, and the electric and gas utilities are individually metered and paid for by the residents. Water, sewer, and trash expenses are paid for by the owner. There is excellent tenant and visitor parking availability in the front of the building and street parking available. The current rents are $475 per month with a great upside opportunity. southeast heights 4-plex | FOr Sale Unit Mix Actual Rents Unit Description Percent Mix Unit Type Unit Count Square Feet Total SF Rent Per Unit $ Rent Per SF $ Monthly Rent $ 2Br/1Ba 100% 2x1 4 759 3,036 $475 $.63 $1,900 Percent/Per Unit Annual Market Rents $5,700 $22,800 Projected Increase 0.00% $0 Gain (Loss) To Lease 0.00% 0 $5,700 $22,800 Vacancy 5.00% $1,140 Concessions 0.00% 0 Other Rent Loss 0.00% 0 $5,415 $21,660 $150 $600 $5,565 $22,260 $464 $1,855 $321 $1,284 60 240 Gas, Water, Sewer Trash 351 1,404 Management Fees 488 1,950 Insurance 275 1,100 Real Estate Taxes 571 2,282 Recurring Capital Expenditures 0 0 Contract Services 0 0 Labor/Bonuses 0 0 Supplies 88 350 Other 38 150 Operating Expense Subtotal $2,190 $8,760 Net Operating Income $3,375 $13,500 Gross Potential Rent Net Rental Income Other Income Effective Gross Income Monthly Revenue Average Operating Expenses Repairs & Maintenance 1 0 0 % O ccupie d as o f December 1 5 , 2 0 1 2 S u b m a r k e t 1 2 Up t o w n Major Employers: Kirtland Air Force Base Expo New Mexico Race Track University of New Mexico Tingley Coliseum The information contained is believed reliable. While we do not doubt the accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs. November 2012 Rent Roll T-12 Expenses Income/Expenses Electricity Albuquerque is among the most stable markets in the country Rent growth positive over the past three years when the rest of the country sank. Slight slowing in 2012, but good fundamentals Albuquerque concessions are moderate Modest value-add renovation programs continue Local unemployment is better than national The information contained is believed reliable. While we do not doubt the accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs. Custom Map southeast heights 4-plex | FOr Sale San Pablo St. Rhode Island St. . Virginia St. Zuni Rd. Wyoming Blvd. Central Ave Tennessee St. Chico Rd. Bell Ave. P RO P ERTY DETAI L S BUI L DINGS 1 UNITS 4 December 21, 2012 Made with Esri Business Analyst www.esri.com/ba 800-447-9778 Try it Now! ©2012 Esri YEAR BUILT Unknown RENTA B L E SF ±3,036 SITE SIZE ±.16 Acres Page 1 of 1 NEQ of Zuni Rd. SE & L OCATION Rhode Island St. SE PARCE L ID 101905731801440209 FRONTAGE Rhode Island St. SE Separately for Electricity METERED & for Gas (4) 2Br 1Ba Units D escr i p ti on 4 Storage Units Included Laundry Facility On-Site Fully Fenced Yard 505.878.0001 6801 Jefferson NE, Suite 200 Albuquerque, NM 87109 www.gotspaceusa.com Cole Flanagan cole@gotspaceusa.com 505 235 7585
