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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 $850 per month, and an ask price of $364,490 the property's measures of investment performance include a 8.93 GRM, 7.27% cap rate before reserves, before tax IRR of 20.80% and an after-tax IRR of 15.80%. Rents recently increased 6.25% over year end 2021.If rents were raised to the submarket average of $925, the measures of investment performance improve to a 8.11% cap rate, and an outstanding 15.79% 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/Pred

Listing ID1006441
Price$364,490
StatusActive
Bedrooms2
Total Baths1
SqFt 3,984
Acres 0.420
CountyOtero
SubdivisionHaynes Addition
Year Built1959
Property TypeResidential Income
Property Sub TypeQuadruplex

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Myers & Myers Real Estate, Inc.
Albuquerque, NM 87122
United States
Phone: 505-401-7500

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