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1218 Michigan Avenue

Alamogordo, NM 88310
  • $215,575
  • STATUS: Active
  • ON SITE: 54 Days
  • MLS #: 1005402
UPDATED: 39 min ago
$215,575
  • 1
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,310
    SQFT
  • $93
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:
Area:

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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IDX information © 2022 The Southwest Multiple Listing Service, Inc. 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. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team | Coldwell Banker Legacy. Data last updated: 2022-01-25T08:04:46.547.
www.sandisells.com/homes/123650958
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1218 Michigan Avenue Alamogordo, NM 88310

  • Price: $215,575
  • Status: Active
  • On Site: 54 Days
  • Updated: 39 min ago
  • MLS #: 1005402
1
Beds
0
Baths
0
½ Baths
0.22
Acres
2,310
SQFT
$93
$/SQFT
1950
Built
Neighborhood:
Alamo Blocks
County:
Otero
Area:
550 - Otero
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 Materials Frame Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring Carpet Heating CentralForced AirWall Furnace Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 2310 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 29070 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 15058 Property Condition Resale Property Sub Type Quadruplex Property Sub Type Additional Quadruplex Tax Annual Amount 624 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Description R-2

Listing courtesy of Nm Apartment Advisors, Inc.. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 The Southwest Multiple Listing Service, Inc. 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. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team | Coldwell Banker Legacy. Data last updated: 2022-01-25T08:04:46.547.
 
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