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1301 Fillmore Avenue

Alamogordo, NM 88310
  • $2,339,292
  • STATUS: Active
  • ON SITE: 24 Days
  • MLS #: 2201244
UPDATED: 12 min ago
$2,339,292
  • 64
    BEDS
  • 1.32
    ACRES
  • 32
    BATHS
  • 0
    1/2 BATHS
  • 30,944
    SQFT
  • $76
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Description

This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.Built in 1984, this 32 unit community contains all two bedroom, one bathroom units. The property offers offsite parking and laundry amenitiesBased on the current average rents of $602 per month, the property's measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%.If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash.Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8)Owner prefers not to disturb residents and encourages offers subject to inspections.Do

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© 2022 Southern New Mexico Multiple Listing Service. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MLIS or Agave Real Estate Group - Keller Williams Realty. Data last updated: 2022-05-21T17:14:31.49.
www.mylascruceshomefinder.com/homes/128086840
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1301 Fillmore Avenue Alamogordo, NM 88310

  • Price: $2,339,292
  • Status: Active
  • On Site: 24 Days
  • Updated: 12 min ago
  • MLS #: 2201244
64
Beds
32
Baths
0
½ Baths
1.32
Acres
30,944
SQFT
$76
$/SQFT
1984
Built
Neighborhood:
Aspen Park
County:
Otero
Area:
845 - Alamogordo
Property Description
This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.Built in 1984, this 32 unit community contains all two bedroom, one bathroom units. The property offers offsite parking and laundry amenitiesBased on the current average rents of $602 per month, the property's measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%.If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash.Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8)Owner prefers not to disturb residents and encourages offers subject to inspections.Do
Exterior Features

Construction FrameSlump BlockStucco Fence Wood Parking Capacity 32.00 Parking Type Paved Area Roofing Asphalt

Interior Features

Appliances Refrigerator Cooling Evaporative Central Flooring Foundation CarpetingVinyl Heating Forced Air

Property Features

Display On Public Websites YN Yes Green Certified YN No Hoa YN No New Vs Resale Resale Owner Financing YN No Property Sub Type Apartment Complex Reo Bank Owned YN No Sewer City Sewer Short Sale YN No Will Sell CashConventional

Listing provided courtesy of David T Clarke of Nm Apartment Advisors Inc.: (505) 440-8663. All listing information was provided by Southern New Mexico Multiple Listing Service.
© 2022 Southern New Mexico Multiple Listing Service. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MLIS or Agave Real Estate Group - Keller Williams Realty. Data last updated: 2022-05-21T17:14:31.49.
 
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Agave Real Estate Group - Keller Williams Realty
3780 Foothills Rd. Suite C
Las Cruces NM, 88011