Skip To Content

    815 W Picard Avenue

    Belen, NM 87002
    • $1,349,000
    • STATUS: Active
    • ON SITE: 17 days
    • MLS #: 996019
    UPDATED: 74 min ago
    $1,349,000
    • 2
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Cts
    Type:
    Multi-Family
    Built:
    1992
    County:
    Area:

    School Ratings & Info

    Description

    New Mexico's 30,000 available and affordable home shortage coupled with the arrival of Netflix, Facebook, Intel, and Amazon is driving double digit growth in single-family home prices and rent increases, making these 20-units an excellent investment opportunity. Measure of investment performance at the current rent of $613 include a GRM of 9.17, before reserves cap rate of 6.85%, and after tax IRR of 11.30%. If rents are raised to market average of $875, measure of investment performance improve to proforma cap rate of 10.52%, and an amazing cash on cash of 21.74%.A value-add investor who commits to modest renovations and good management can reposition the property and potentially realize 20% upside.

    Monthly Payment Calculator



    IDX information © 2021 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 Campbell & Campbell Real Estate Services. Data last updated: 2021-07-26T20:04:49.75.
    www.metrohomesearch.com/homes/119083457
    Print Image

    815 W Picard Avenue Belen, NM 87002

    • Price: $1,349,000
    • Status: Active
    • Updated: 74 min ago
    • MLS #: 996019
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    1992
    Built
    Neighborhood:
    Cts
    County:
    Valencia
    Area:
    741 - Belen
    Property Description
    New Mexico's 30,000 available and affordable home shortage coupled with the arrival of Netflix, Facebook, Intel, and Amazon is driving double digit growth in single-family home prices and rent increases, making these 20-units an excellent investment opportunity. Measure of investment performance at the current rent of $613 include a GRM of 9.17, before reserves cap rate of 6.85%, and after tax IRR of 11.30%. If rents are raised to market average of $875, measure of investment performance improve to proforma cap rate of 10.52%, and an amazing cash on cash of 21.74%.A value-add investor who commits to modest renovations and good management can reposition the property and potentially realize 20% upside.
    Exterior Features

    Construction Materials Frame Levels One Stories Total 1

    Interior Features

    Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling OtherSee Remarks Electric None Flooring CarpetTile Heating OtherSee Remarks

    Property Features

    Additional Parcels YN Yes Builder Name Unknown Disclosures Ranm 2100 Disclosure Gross Income 147864 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 59936 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 9246 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description R-3

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2021 Southwest Multiple Listing Service, Inc.


    IDX information © 2021 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 Campbell & Campbell Real Estate Services. Data last updated: 2021-07-26T20:04:49.75.
     
    https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_996019-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_996019-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_996019-2.jpg
    Logo
    Campbell & Campbell Real Estate Services
    5716 Osuna Rd NE
    Albuquerque NM, 87109