Tucked in a high appreciation, neighborhood of mostly single-family homes built in 1940-50's. The property, located at 610 Jefferson NE, includes front hour and a rear duplex that was built in 2017.A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates given how highly sought after the area is by many residents.Measurements of investment performance based on actual average rents of $900 per unit, 5.21% CAP rate, 18.50% before tax IRR, and 14.90% after tax IRR. Based on a market rent of $1,007 per unit the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.The location has a high walk (78), Bike (83), and transit (40) score.
Listing courtesy of NM Apartment Advisors, Inc..
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.