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1004 New Mexico 76 7 Unit Apartment Building $1,416,582 CAD ($202,369 CAD/Unit) 7.50% Cap Rate Espanola, NM 87532
INVESTMENT HIGHLIGHTS
- Located 22 miles from Los Alamos National Laboratory
- Positioned in a culturally rich and economically growing region
- Historic Northern New Mexico architecture with cottage-style charm
- Each unit features laundry access and private yard space
- Value-add potential with rising rents and job growth nearby
- Strong projected IRR with 13.8% before tax and 10.9% after tax
EXECUTIVE SUMMARY
In addition to being the state capital, and the oldest capital in North America, Santa Fe is a top market on the planet for travel, culture, food, arts, film/tv and so much more. This seven plex is well located in close proximity jobs, retail, restaurants, casinos and the world famous El Parasol and Rancho Chimayo Restaurants. Each of the units has it's own laundry or shares with one additional unit. Most of the residences have their own private yard spaces and truly feel like separate cottages in a larger northern New Mexico familial compound setting. The property is a value-add opportunity if repositioned to take advantage of the announced 20,000 jobs, at the rate of 2,000 per year, at Los Alamos National Laboratories (LANL) that will spill in the surrounding towns, and cities.
PROPERTY FACTS
| Price | $1,416,582 CAD | Property Subtype | Apartment |
| Price Per Unit | $202,369 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.50% | Lot Size | 1.24 AC |
| Gross Rent Multiplier | 8.32 | Building Size | 5,741 SF |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1945 |
| Price | $1,416,582 CAD |
| Price Per Unit | $202,369 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Gross Rent Multiplier | 8.32 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.24 AC |
| Building Size | 5,741 SF |
| No. Stories | 1 |
| Year Built | 1945 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
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1004 New Mexico 76
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