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1218 Michigan Avenue

Alamogordo, NM 88310
  • $215,575
  • STATUS: Active
  • ON SITE: 13 Days
  • MLS #: 2200145
$215,575
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,454
    SQFT
  • $148
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:

School Ratings & Info

Description

The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.This property contains four one bedroom, one bathroom units with carpet or hardwood floors in the units. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and the 12 acre Alameda park and zoo.Based on the current average rents of $658 per month, the property's measures of investment performance include a 7. 40 GRM, 6.923% cap rate before reserves, before tax IRR of 19.70% and an after-tax IRR of 15.20%.If rents were raised to the submarket average of $825, the measures of investment performance improve to a 10.30% cap rate, and an outstanding 23.87% cash on cash.

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© 2022 Southern New Mexico Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MLIS or Las Cruces Real Estate Professionals | Keller Williams Las Cruces. Data last updated: 2022-01-26T00:14:33.29.
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1218 Michigan Avenue Alamogordo, NM 88310

  • Price: $215,575
  • Status: Active
  • On Site: 13 Days
  • MLS #: 2200145
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1,454
SQFT
$148
$/SQFT
1950
Built
Neighborhood:
Alamo Blocks
County:
Otero
Area:
845 - Alamogordo
Property Description
The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.This property contains four one bedroom, one bathroom units with carpet or hardwood floors in the units. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and the 12 acre Alameda park and zoo.Based on the current average rents of $658 per month, the property's measures of investment performance include a 7. 40 GRM, 6.923% cap rate before reserves, before tax IRR of 19.70% and an after-tax IRR of 15.20%.If rents were raised to the submarket average of $825, the measures of investment performance improve to a 10.30% cap rate, and an outstanding 23.87% cash on cash.
Exterior Features

Construction Brick VeneerFrameStucco Fence Chain Link Number Of Floors One Parking Capacity 6.00 Parking Type Off-Site Park Roofing Shingle

Interior Features

Appliances Refrigerator Cooling Evaporative Central Flooring Foundation CarpetingVinyl Heating Forced Air

Property Features

Display On Public Websites YN Yes Green Certified YN No Hoa YN No New Vs Resale Resale Owner Financing YN No Property Sub Type Quadruplex Reo Bank Owned YN No Sewer City Sewer Short Sale YN No Unit Features Uf Apply To All Water City Water Will Sell CashConventionalFha

Listing provided courtesy of David T Clarke of Nm Apartment Advisors Inc.: (505) 440-8663. All listing information was provided by Southern New Mexico Multiple Listing Service.
© 2022 Southern New Mexico Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MLIS or Las Cruces Real Estate Professionals | Keller Williams Las Cruces. Data last updated: 2022-01-26T00:14:33.29.
 
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