Bought with Deacon Property Services
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Key Details
Sold Price $309,817
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,984 sqft
Price per Sqft $77
Subdivision Haynes Addition
MLS Listing ID 1006441
Sold Date 03/24/23
Bedrooms 2
Construction Status Resale
HOA Y/N No
Year Built 1959
Annual Tax Amount $1,400
Lot Size 0.420 Acres
Acres 0.42
Lot Dimensions Public Records
Property Sub-Type Quadruplex
Property Description
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
Location
State NM
County Otero
Area 550 - Otero
Interior
Heating Central, Forced Air, Wall Furnace
Cooling Evaporative Cooling
Flooring Tile, Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID R014583
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Financing Conventional
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