Description
The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
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2BEDS
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0.56ACRES
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1BATHS
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01/2 BATHS
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7,720SQFT
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$120$/SQFT
School Ratings & Info
Description
The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
IDX information © 2023 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 Sarah Griffin Real Estate Group | Keller Williams. Data last updated: 2023-09-24T19:05:07.65.
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Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2023 Southwest Multiple Listing Service, Inc.