3444 Eastern Ave SE

Subject: Upscale South University area fourplex with potential to lease to the newly announced dental school

Good afternoon-

On behalf of the owner, NM Apartment Advisors Inc., and Deacon Property Services are pleased to bring to market a great opportunity for a remodeled corner lot 4-plex in this up and coming South UNM neighborhood. 

The property has been positioned to partner with the newly announced Touro College Dental  school to provide corporate housing for its interns and students.  The potential exists to furnish the units and pursue a long term partnership with the dental school.

All 4 apartments have been modernized with care and an eye for resident comfort, convenience and security with secured outdoor storage and private yard spaces with brand new xeric landscaping and plenty of room for private outdoor living space. Other updates include thermal windows, new quality luxury vinyl plank flooring throughout, stacked washer / dryers in each unit, with updated appliances and fixtures throughout.

Apartments are separately metered and residents pay gas and electric. Very convenient location in up and coming south UNM / Edgecrest area—close to the new Touro College of Dental Medicine campus as well as other new development and expansion on the south side of Albuquerque like the Max-Q and near amenities like Burton Park, a community garden, UNM, CNM, Kirtland Air Force Base, and I-25.

18 page marketing flyer can be viewed at http://www.nmapartment.com/apt/NMAA-Eastern3444SE.pdf

With Virtual tours at http://www.nmapartment.com/3deastern3444unit2

And

http://www.nmapartment.com/3deastern3444unit3

Measures of investment performance at ask price of $523,491 and current average rent of $999 are a GRM of 10.42, a 6.73% cap rate, $123,873 per unit,  $217/sf.  With an assumption that two of the units are rented to the dental school.

 

Apartments are separately metered and residents pay gas and electric. Very convenient location in up-and-coming south UNM / Edgecrest area—close to lots of exciting new development and expansion on the south side of Albuquerque, in addition to Burton Park, a community garden, UNM, CNM, Kirtland Air Force Base, and I-25.

Properties like this, in a market where amazing job growth from all of the new Netflix, Facebook,

Intel and Amazon jobs, go quickly. Do not wait as you will be honored to own this one.

Thanks,

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

And

Kyle Deacon

Qualifying Broker
Deacon Property Services
(505) 878-0100
KyleD@deaconnm.com

Owner occupant unit

Seller buy down of interest rate

Recent renovations