These large one bedroom/one bath units are in a great location less than one block from the UNM campus and the ART Transportation System, plus they are an easy walking distance to Nob Hill. Each unit is 893 SF in size and there is an enclosed backyard plus off-street parking. There is substantial upside potential to revenues and value. If rents are moved to market rates, the capitalization rate would improve to 6.01%, the total return on equity would improve to 9.05%. There is also an after-tax IRR of 13.52% based on a 5-year hold.
Listing courtesy of Berger Briggs RE & Prop Mgmt.
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