225 Jefferson St SE, Albuquerque, NM 87108

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Building Details:

225 Jefferson St SE is located in Albuquerque, NM.

The Albuquerque Apartment Portfolio is comprised of 10 complexes totalling 313 rental units. Located in the North East and South East sections of the city, these properties offer consistent characteristics of unit style, tenant profile, property condition and performance. Three complexes
are operated as a single unit and another two complexes operate as a single unit. Each of the properties was built by and has been owned by the same local family. The properties were built between 1965 and 1986. All of the units are 1 bedroom x 1 bath. Over the past 5 years approximately $1,500,000 in capital improvements have been made. The properties are in very good condition and are best described as high quality entry level rental housing. The buildings are located in working class areas of Albuquerque. Each unit is furnished and the landlord pays all utilities. This offering provides an investor the opportunity to acquire a substantial number of rental units at a price that is well below replacement cost. An investor should be able to achieve a double digit cash-on-cash return with in-place operations. Slight management modifications provide significant upside. The Pro Forma operations simply introduce a $20/unit/ month utility reimbursement. This reimbursement increases the Net Operating Income by $75,120.

This offering is listed with Ric Russell, Cassidy Turley (415) 677-0448 rrussell@ctbt.com

PLEASE DO NOT DISTURB RESIDENTS OR ONSITE MANAGEMENT. PLEASE SCHEDULE ANY VIEWINGS OR TOURS WITH THE LISTING BROKER.