Description
Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.
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4BEDS
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0.16ACRES
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4BATHS
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01/2 BATHS
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2,160SQFT
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$153$/SQFT
School Ratings & Info
Description
Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.
IDX information © 2024 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 The Team | Realty Executives Advantage. Data last updated: 2024-10-11T20:05:08.47.
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Listing courtesy of T & C Management, LLC: (505) 268-1181. © 2024 Southwest Multiple Listing Service, Inc.