House + Duplex

Subject: Highly sought after house with additional unit in Duranes 

Good morning!

On behalf of the owners, NM Apartment Advisors is pleased to present this North Valley duplex. Located in the Duranes neighborhood and just north of Old Town, and a long block west of the stunning Rio Grande Boulevard corridor, this property is well positioned for someone who wants easy access to the Bosque trail head or the downtown central business district.

The main house, Unit A, is a three bedroom, two bathroom beauty with hardwoods floors which faces Floral Road. Unit BC is a two story 3 bedroom, two bathroom unit that faces Rose Avenue.

Besides the spacious units, the main amenity for this property is the location and its close proximity to Old Town, Downtown and North America’s largest bosque forest.

22 page flyer at http://www.nmapartment.com/apt/NMAA-Floral2450NW.pdf

Virtual tour of the main residence can be found at http://www.nmapartment.com/floral3d

Measures of investment performance at start price of $466,888 and current average rent of $2,225 are a GRM of 8.74, a 8.03% cap rate, $233,444 per unit,  $167/sf and an after tax IRR of 24.50%, with the potential to lower an investors effective federal tax rate from 35% to 19%. 

 

The greater Albuquerque area continues to under go a significant housing shortage of over 13,000 rental housing units due to the new Netflix, Intel, Facebook (Meta) and Amazon jobs.

 

Located at the intersection of Rose Avenue and Floral Road and in the Floral Gardens subdivision,

do not miss out on the opportunity to make this community your new Eden!

Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD