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3226 Rufina

Santa Fe, NM 87507
  • $3,264,252
  • STATUS: Active
  • ON SITE: 41 Days
  • MLS #: 202104644
UPDATED: 43 min ago
$3,264,252
  • 0
    BEDS
  • 0.87
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Description

If you love Meow Wolf, this property is located a few hundred feet south. The economic engine of Meow Wolf makes this an ideal asset to acquire under the rising tide raises all ships theory. The property contains a total of 23 units in 2 buildings built in the 1980s, with a small parcel of land for potential additional uses. Historically a high barrier to entry market for new construction, in 2017, the areas was identified as being short some 6,484 housing units. The community has partnered to bring more multifamily units on line than the Albuquerque area, but its not enough to satiate the resident demand. This has translated to high rent growth and the new construction is establishing a new ceiling on market rents ranging from $2,505 to $6,446 per month (you read that correct there are a half dozen communities that the high end of their rent is between $2,505 to $6,446 per month!) This high barrier to entry market has some of the most expensive single-family housing in the country with an average price over $700,000. There are two prices for this property: 1. If you want to pay all cash, or obtain a new loan, the price is $3,264,252 a 4.50% cap rate at the current average rents of $885. 2. If you want to assume the existing financing of $1,494,328, the price is $2,891,859. Measure of investment performance at the average rents of $885 include a GRM of 11.83, a before reserves cap rate of 5.08%, an after reserves cap rate of 4.92%, a cash on cash of 3.19%

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© 2021 Santa Fe Association of REALTORS®, Inc. MLS. All rights reserved. The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange ("IDX") program of SFAR MLS, Inc. Real estate listings held by brokers other than Berkshire Hathaway HomeServices are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively 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. Data last updated 2021-11-30T11:51:55.023.
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3226 Rufina Santa Fe, NM 87507

  • Price: $3,264,252
  • Status: Active
  • On Site: 41 Days
  • Updated: 43 min ago
  • MLS #: 202104644
0
Beds
0
Baths
0
½ Baths
0.87
Acres
1984
Built
Neighborhood:
4N-Sf City Limit Swn
County:
Santa Fe
Area:
4N-Sf City Limit Swn
Property Description
If you love Meow Wolf, this property is located a few hundred feet south. The economic engine of Meow Wolf makes this an ideal asset to acquire under the rising tide raises all ships theory. The property contains a total of 23 units in 2 buildings built in the 1980s, with a small parcel of land for potential additional uses. Historically a high barrier to entry market for new construction, in 2017, the areas was identified as being short some 6,484 housing units. The community has partnered to bring more multifamily units on line than the Albuquerque area, but its not enough to satiate the resident demand. This has translated to high rent growth and the new construction is establishing a new ceiling on market rents ranging from $2,505 to $6,446 per month (you read that correct there are a half dozen communities that the high end of their rent is between $2,505 to $6,446 per month!) This high barrier to entry market has some of the most expensive single-family housing in the country with an average price over $700,000. There are two prices for this property: 1. If you want to pay all cash, or obtain a new loan, the price is $3,264,252 a 4.50% cap rate at the current average rents of $885. 2. If you want to assume the existing financing of $1,494,328, the price is $2,891,859. Measure of investment performance at the average rents of $885 include a GRM of 11.83, a before reserves cap rate of 5.08%, an after reserves cap rate of 4.92%, a cash on cash of 3.19%
Exterior Features

Roof Flat Style Multi-Level

Interior Features

Cooling Evaporative - Central Heat Distribution Forced Air Heating Gas Interior Steps No Sq Ft Unit1 432 Sq Ft Unit2 620 Unit1 Baths 1 Unit1 Beds 1 Unit2 Baths 1 Unit2 Beds 2

Property Features

Ada Compliant No Annual Insurance 9258 Approximate Age 31+ Years Bank Owned No Multifamily Type Apartment Complex Num Units1 Bed1 Ba 15 Num Units1 Bed2 Ba 0 Num Units2 Bed1 Ba 8 Num Units2 Bed2 Ba 0 Owner Finance No Possession Upon Funding Sewage City Short Sale No Tax Year 2020 Taxes 9554.35 Terms CashConventional Trade No Transfer Fees 0 Unit1 Rent 831 Unit2 Rent 987 Utilities Other-See Remarks Vow Address Display Yes Water City Zoning Other - See Remark

Listing provided courtesy of Todd Clarke of Nm Apartment Advisors, Inc.. © 2021 Santa Fe Association of REALTORS®, Inc. MLS. All Rights Reserved.


© 2021 Santa Fe Association of REALTORS®, Inc. MLS. All rights reserved. The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange ("IDX") program of SFAR MLS, Inc. Real estate listings held by brokers other than Berkshire Hathaway HomeServices are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively 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. Data last updated 2021-11-30T11:51:55.023.
 
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Berkshire Hathaway HomeServices
433 Paseo De Peralta Suite 200
Santa Fe NM, 87501