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1218 Michigan Av , #4

Alamogordo, NM 88310
  • $215,575
  • STATUS: Active
  • ON SITE: 205 Days
  • MLS #: 165684
UPDATED: 49 min ago
$215,575
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1950

School Ratings & Info

Description

The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones. This property contains four one bedroom, one bathroom units with carpet or hardwood floors in the units. Location is the real key for this property as its walking distance to Alamogordos main retail corridor and the 12 acre Alameda park and zoo. Based on the current average rents of $658 per month, the propertys measures of investment performance include a 7. 40 GRM, 6.923% cap rate before reserves, before tax IRR of 19.70% and an after-tax IRR of 15.20%. If rents were raised to the submarket average of $825, the measures of investment performance improve to a 10.30% cap rate, and an outstanding 23.87% cash on cash.

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The information relating to real estate for sale on this Internet site comes in part from the Internet Data Exchange (IDX) program of the Otero County Association of REALTORS Multiple Listing Service (MLS), Alamogordo, New Mexico. Real Estate listings held by other IDX Participants are marked with the IDX Logo, Listing Brokerage Name and telephone number. All information is deemed reliable but is not guaranteed by the MLS. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
www.wesellotero.com/homes/123646301
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1218 Michigan Av , #4 Alamogordo, NM 88310

  • Price: $215,575
  • Status: Active
  • On Site: 205 Days
  • Updated: 49 min ago
  • MLS #: 165684
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1950
Built
Neighborhood:
08 States N Of 8th
Area:
08 States N Of 8th
Property Description
The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones. This property contains four one bedroom, one bathroom units with carpet or hardwood floors in the units. Location is the real key for this property as its walking distance to Alamogordos main retail corridor and the 12 acre Alameda park and zoo. Based on the current average rents of $658 per month, the propertys measures of investment performance include a 7. 40 GRM, 6.923% cap rate before reserves, before tax IRR of 19.70% and an after-tax IRR of 15.20%. If rents were raised to the submarket average of $825, the measures of investment performance improve to a 10.30% cap rate, and an outstanding 23.87% cash on cash.
Property Features

Flood Zone X Gross Income 29070 Lot Or Unit 1 Office Or Unit 1 Sale Rent For Sale Type Apt/Multi-Family





The information relating to real estate for sale on this Internet site comes in part from the Internet Data Exchange (IDX) program of the Otero County Association of REALTORS Multiple Listing Service (MLS), Alamogordo, New Mexico. Real Estate listings held by other IDX Participants are marked with the IDX Logo, Listing Brokerage Name and telephone number. All information is deemed reliable but is not guaranteed by the MLS. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
 
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Assist-2-Sell Buyers and Sellers Preferred Realty
818 N. White Sands Blvd
Alamogordo NM, 88310