Description
Timelines:Attend the property tour at noon on Tuesday, April 6th, 2021 (no other showing times are available)Offer deadline at 9am on Thursday, April 8th, 2021.Measures of investment performance at ask price of $486,718 with a current average rent of $444 are a GRM of 8.31, a 7.24% cap rate before reserves, 6.36% cap rate after reserves, 13.60% after tax IRR, $44,718 per unit, and a price per sf of $87.70.Once renovations are complete and if the one bedroom rents are raised to the market of $654, and the value increases to $846,211, the potential exit cap rate is 6.36% after reserves, and a 8.61% cash on cash. On a cost basis (acquisitions of $486,718 + estimated renovations of $204,680=$691,398, ) 7.95
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1BEDS
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0.3ACRES
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0BATHS
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01/2 BATHS
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5,550SQFT
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$0$/SQFT
School Ratings & Info
Description
Timelines:Attend the property tour at noon on Tuesday, April 6th, 2021 (no other showing times are available)Offer deadline at 9am on Thursday, April 8th, 2021.Measures of investment performance at ask price of $486,718 with a current average rent of $444 are a GRM of 8.31, a 7.24% cap rate before reserves, 6.36% cap rate after reserves, 13.60% after tax IRR, $44,718 per unit, and a price per sf of $87.70.Once renovations are complete and if the one bedroom rents are raised to the market of $654, and the value increases to $846,211, the potential exit cap rate is 6.36% after reserves, and a 8.61% cash on cash. On a cost basis (acquisitions of $486,718 + estimated renovations of $204,680=$691,398, ) 7.95
IDX information © 2021 The Southwest Multiple Listing Service, Inc. 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 is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Berkshire Hathaway HomeServices. Data last updated: 2021-04-14T19:04:52.287.
Listing courtesy of Nm Apartment Advisors, Inc.. © 2021 Southwest Multiple Listing Service, Inc.