$3,600,000

12008 Phoenix Avenue NE

Albuquerque NM, 87112

Description

Amazing property contains ownership style, two story townhouse units with 2 bedrooms, 1.5 bathrooms, laundry room and private back patio/area.Located in NE heights - close to foothills, schools, shopping, restaurants with easy access to Interstate 40.Property is two adjacent properties - 8 formerly condo units at 2306 Chelwood NE, and 22 units at 12008 Phoenix NE. (see page 2 of the flyer for aerial guide).Measure of investment performance at current average rent of $849, include GRM of 11.77, 5.30% Cap rate after reserves, 8.31% cash on cash, and after tax IRR of 12.50%. If rents are moved to market of $963, MIP improves to 10.62 GRM, 6.30% Cap rate after reserves, 12.20% cash on cash and 31.60% IRR.

Details

MLS#912647
Sub-TypeResale
StatusActive
Year1979
Days On Site563

Features

SQ Feet33,750
Units30
Building(s)3

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87112
Area50 - Northeast Heights
Listing VS Median (in 87112)
Price:
$3,600,000
low | high
Med:
$229,000
100% of Average
SqFt:
33,750
low | high
Med:
1,793
100% of Average
$ / SqFt:
$107
low | high
Med:
$128
30.26352481874% of Average
On Site:
563
low | high
Med:
71
100% of Average
Listing Updated: 09/19/2019
MLS Number: 912647
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.
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