The recent construction community has the advantages of being in the heights - close proximity to the hundreds plus miles of waking/hiking trails, located just a couple blocks from the Tramway bicycle trail and less than a mile from the Tramway entrance to Interstate 40.At the ask price of $300,000, the measure of investment performance at current average rent of $875, include GRM of 14.29, 4.69% Cap rate after reserves, and an after tax IRR of 12.80%. If rents are raised to a market rent of $1,025, the measure of investment performance improve to include a cap rate of 5.63% and a cash on cash of 6.34%.
Listing courtesy of NM Apartment Advisors, Inc..
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