Bought with Rio Grande Realty & Invest LLC
$1,975,000
$2,125,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
1 Bath
32,328 SqFt
SOLD DATE : 11/19/2019
Key Details
Sold Price $1,975,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 32,328 sqft
Price per Sqft $61
Subdivision Fisher
MLS Listing ID 889003
Sold Date 11/19/19
Construction Status New Construction
HOA Y/N No
Year Built 1987
Annual Tax Amount $1,043
Lot Size 1.920 Acres
Acres 1.92
Lot Dimensions Appraiser
Property Sub-Type Multi Family
Property Description
NM Apartment Advisors is excited to bring to market a high cap rate, value add opportunity in Alamogordo, New Mexico.Offered for sale by the original developer's family, this 52-unit community is nestled in tall pines trees on a cul-de-sac not just a short distance to the foothills of the Sacramento mountains and short drive to New Mexico's iconic White Sands national monument.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.Built in 1986-1987, this 52unit community contains 24 studios, 24 x 1 bedroom/1 bathrooms and 4 two bedrooms, two of which have garages.Based on the current average rents of $460 per month, the property's measures of investment performance include a 7.40 GRM, 8.33% ca
Location
State NM
County Otero
Area 550 - Otero
Interior
Heating Gas
Cooling Evaporative Cooling
Flooring Carpet, Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Utilities Available Municipal Utilities
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction Yes
Construction Status New Construction
Others
Tax ID 01N4057094015453
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
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