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1301 Fillmore Av , 20+

Alamogordo, NM 88310
  • $2,339,292
  • STATUS: Active
  • ON SITE: 57 Days
  • MLS #: 166098
UPDATED: 40 min ago
$2,339,292
  • 0
    BEDS
  • 1.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1979

School Ratings & Info

Description

This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers. The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones. Based on the current average rents of $602 per month, the propertys measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%. If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash. Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8) Owner prefers not to disturb residents and encourages offers subject to inspections.

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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/127040842
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1301 Fillmore Av , 20+ Alamogordo, NM 88310

  • Price: $2,339,292
  • Status: Active
  • On Site: 57 Days
  • Updated: 40 min ago
  • MLS #: 166098
0
Beds
0
Baths
0
½ Baths
1.32
Acres
1979
Built
Neighborhood:
06 Presidents
Area:
06 Presidents
Property Description
This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers. The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones. Based on the current average rents of $602 per month, the propertys measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%. If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash. Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8) Owner prefers not to disturb residents and encourages offers subject to inspections.
Exterior Features

Building Condition Good

Property Features

Approx Sq Ft Source Agent Approx Year Built Source Assessor Business Name Quest Real Flood Zone Y Gross Income 231000 Leases In Effect See Flyer Lot Or Unit 2-4 Office Or Unit 0 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