311 Princeton Dr SE - 311 Princeton Dr SE
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311 Princeton Dr SE - 311 Princeton Dr SE
3 Unit Apartment Building Offered at £363,384 at a 5.87% Net Initial Yield in Albuquerque, NM 87106
Executive Summary
University area triplex main house ready for owner occupant
On behalf of the owners, NM Apartment Advisors is excited to bring to market this rare opportunity to find an UNM/CNM area triplex - 311 Princeton SE
311 Princeton SE is located just 3 blocks to UNMs main campus with quick and immediate access to an ART Stop and all that downtown and Nob Hill have to offer. With a 77 Walk Score, 85 Bike Score and a Transit score of 43, and is in the epi-center of the UNM/CNM campuses and is just steps from the Smiths Grocery store.
The owner has positioned this sale to make it easy for an owner occupant to view the main house – with a virtual tour of the main house and basement can be viewed at
http://www.nmapartment.com/princeton311se3d
A 20 page information flyer for the property can be viewed at http://www.nmapartment.com/apt/NMAA-Princeton311SE.pdf
Measures of investment performance at ask price of $459,974 and current average rent of $1,133 are a GRM of 11.27, a 5.87% cap rate, $153,325 per unit, $169.79/sf. Ten recent closed or pending sales indicate a value closet to $465,092.
If rents are raised to market for furnished units, with an average rent of $1,392, the measure of investment performance improve to a GRM of 9.18, and a cap rate of 7.46%.
Qualified investor/buyers can gain access to confidential information on the property by completing the online confidentially at http://www.nmapartment.com/313harvard
Do not miss out on owning a University area triplex that is ready for owner occupants and/or investors to buy in one of the top rental markets in the country.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
On behalf of the owners, NM Apartment Advisors is excited to bring to market this rare opportunity to find an UNM/CNM area triplex - 311 Princeton SE
311 Princeton SE is located just 3 blocks to UNMs main campus with quick and immediate access to an ART Stop and all that downtown and Nob Hill have to offer. With a 77 Walk Score, 85 Bike Score and a Transit score of 43, and is in the epi-center of the UNM/CNM campuses and is just steps from the Smiths Grocery store.
The owner has positioned this sale to make it easy for an owner occupant to view the main house – with a virtual tour of the main house and basement can be viewed at
http://www.nmapartment.com/princeton311se3d
A 20 page information flyer for the property can be viewed at http://www.nmapartment.com/apt/NMAA-Princeton311SE.pdf
Measures of investment performance at ask price of $459,974 and current average rent of $1,133 are a GRM of 11.27, a 5.87% cap rate, $153,325 per unit, $169.79/sf. Ten recent closed or pending sales indicate a value closet to $465,092.
If rents are raised to market for furnished units, with an average rent of $1,392, the measure of investment performance improve to a GRM of 9.18, and a cap rate of 7.46%.
Qualified investor/buyers can gain access to confidential information on the property by completing the online confidentially at http://www.nmapartment.com/313harvard
Do not miss out on owning a University area triplex that is ready for owner occupants and/or investors to buy in one of the top rental markets in the country.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Property Facts
| Price | £363,384 | Property Type | Residential |
| Price Per Unit | £121,128 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Net Initial Yield | 5.87% | Building Size | 2,709 SF |
| Gross Rent Multiplier | 11.27 | Number of Floors | 1 |
| No. Units | 3 | Year Built | 1940 |
| Price | £363,384 |
| Price Per Unit | £121,128 |
| Sale Type | Investment |
| Net Initial Yield | 5.87% |
| Gross Rent Multiplier | 11.27 |
| No. Units | 3 |
| Property Type | Residential |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,709 SF |
| Number of Floors | 1 |
| Year Built | 1940 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 1 | £711.01 | 707 |
| 2+1 | 1 | £987.51 | 1,100 |
| 3+1 | 1 | £987.51 | 902 |
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Walk Score ®
Very Walkable (77)
Bike Score ®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 1-016-057-173136-3-16-08 | Improvements Assessment | £51,086 |
| Land Assessment | £17,074 | Total Assessment | £68,160 |
PROPERTY TAXES
Parcel Number
1-016-057-173136-3-16-08
Land Assessment
£17,074
Improvements Assessment
£51,086
Total Assessment
£68,160
zoning
| Zoning Code | R-ML (Residential Multi Family Low Density) |
| R-ML (Residential Multi Family Low Density) |
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Todd Clarke -
NM Apartment Advisors Inc
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311 Princeton Dr SE - 311 Princeton Dr SE
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