Description
Property is under contract (PENDING) - contract allows owner to accept back up offers up until buyers contingencies are removed.This charming triplex is embedded in an area of mostly single-family homes. The property has (2) 3 bedroom, one bath apartment units, a 2 bedroom one bathroom unit and a garage. Measures of investment performance at ask price of $450,000 with a current average rent of $1,079 are a GRM of 12.30, a 5.35% cap rate before reserves, 5.35% cap rate after reserves (both include management - if you owner occupy, your cap rate could increase to 6.23%!), 15.40% after tax IRR, $150,000 per unit, and a price per sf of $121.62.If rents are raised to market of $1,300 the measures of investment performance improve to an investor cap rate of 7.03%
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Courtesy of: NM Apartment Advisors, Inc. Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing. Updated: 18th May, 2022 6:58 AM (UTC)
