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2500 Florida Avenue

Alamogordo, NM 88310
  • $364,490
  • STATUS: Active
  • ON SITE: 20 Days
  • MLS #: 1006441
UPDATED: 60 min ago
$364,490
  • 2
    BEDS
  • 0.42
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,984
    SQFT
  • $91
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:
Area:

School Ratings & Info

Description

This property contains three extraordinarily large two bedroom units and a one bedroom. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and major mall.Based on the current average rents of $800 per month, the property's measures of investment performance include a 9.49 GRM, 6.75% cap rate before reserves, before tax IRR of 18.90% and an after-tax IRR of 14.60%.If rents were raised to the submarket average of $825, the measures of investment performance improve to a 7.03% cap rate, and an outstanding 11.48% cash on cash.The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.

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IDX information © 2022 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 The Buchman Group | Keller Williams Realty. Data last updated: 2022-01-18T16:04:57.2.
www.mynmdreamhome.com/homes/124319746
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2500 Florida Avenue Alamogordo, NM 88310

  • Price: $364,490
  • Status: Active
  • On Site: 20 Days
  • Updated: 60 min ago
  • MLS #: 1006441
2
Beds
0
Baths
0
½ Baths
0.42
Acres
3,984
SQFT
$91
$/SQFT
1959
Built
Neighborhood:
Haynes Addition
County:
Otero
Area:
550 - Otero
Property Description
This property contains three extraordinarily large two bedroom units and a one bedroom. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and major mall.Based on the current average rents of $800 per month, the property's measures of investment performance include a 9.49 GRM, 6.75% cap rate before reserves, before tax IRR of 18.90% and an after-tax IRR of 14.60%.If rents were raised to the submarket average of $825, the measures of investment performance improve to a 7.03% cap rate, and an outstanding 11.48% cash on cash.The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.
Exterior Features

Construction Materials Frame Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring TileVinyl Heating CentralForced AirWall Furnace Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 3984 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 36510 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 12818 Property Condition Resale Property Sub Type Quadruplex Property Sub Type Additional Quadruplex Tax Annual Amount 1401 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Description R-2

Listing courtesy of Nm Apartment Advisors, Inc.. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 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 The Buchman Group | Keller Williams Realty. Data last updated: 2022-01-18T16:04:57.2.
 
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The Buchman Group | Keller Williams Realty
6240 Riverside Plaza Ln, Suite 100
Albuquerque NM, 87120