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Pueblo Chamisa Apartments 1800 S Pennsylvania Ave 53 Unit Apartment Building $4,670,858 CAD ($88,129 CAD/Unit) 6.75% Cap Rate Roswell, NM 88203
Executive Summary
NM Apartment Advisors is having an extra-sensory moment of elation to bring to market this out of the world Pueblo Chamisa located in the UFO Capital, Roswell, New Mexico.
The property offers well apportioned units ranging from 601 to 1,274 square feet in one, two and three bedroom units.
The property is a 100% occupied and stable CORE investment, with the potential of value add with rents that are 19% below market and the potential to charge back RUBs. Implementing a RUBs bill back could increase the property value by $891,644 or 26%!
With an average rent of $805, and at the ask price of $3,415,169 the measures of investment performance include $63,244 per unit, $74.57 per square foot, a before reserves cap rates of 7.15%, and an after tax IRR of 18.60%.
If rents are moved to market of $994, measure of investment performance improve to a cap rate of 9.83%.
Offered for less than a recent appraisal and less than 25% of market comparable sales which are coming in closer to $4,706,210, this Seller desires a quick sale!
The property offers well apportioned units ranging from 601 to 1,274 square feet in one, two and three bedroom units.
The property is a 100% occupied and stable CORE investment, with the potential of value add with rents that are 19% below market and the potential to charge back RUBs. Implementing a RUBs bill back could increase the property value by $891,644 or 26%!
With an average rent of $805, and at the ask price of $3,415,169 the measures of investment performance include $63,244 per unit, $74.57 per square foot, a before reserves cap rates of 7.15%, and an after tax IRR of 18.60%.
If rents are moved to market of $994, measure of investment performance improve to a cap rate of 9.83%.
Offered for less than a recent appraisal and less than 25% of market comparable sales which are coming in closer to $4,706,210, this Seller desires a quick sale!
Property Facts Under Contract
| Price | $4,670,858 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $88,129 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.25 AC |
| Cap Rate | 6.75% | Building Size | 57,960 SF |
| Gross Rent Multiplier | 6.55 | No. Stories | 2 |
| No. Units | 53 | Year Built | 1950 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R4 | ||
| Price | $4,670,858 CAD |
| Price Per Unit | $88,129 CAD |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Gross Rent Multiplier | 6.55 |
| No. Units | 53 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.25 AC |
| Building Size | 57,960 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Opportunity Zone |
Yes |
| Zoning | R4 |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Basketball Court
- Pet Play Area
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 607 |
| 2+1.5 | 18 | - | 1,053 |
| 3+2 | 19 | - | 1,275 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R043969 | Improvements Assessment | $233,153 CAD |
| Land Assessment | $48,053 CAD | Total Assessment | $281,206 CAD |
Property Taxes
Parcel Number
R043969
Land Assessment
$48,053 CAD
Improvements Assessment
$233,153 CAD
Total Assessment
$281,206 CAD
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Pueblo Chamisa Apartments | 1800 S Pennsylvania Ave
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