1301 Filmore Ave (1309-1325)

Multi-Family: Low-Rise

1301 Filmore Ave (1309-1325), AlamogordoNM 88310

Property Details

Location

Address
1301 Filmore Ave (1309-1325), AlamogordoNM 88310
County
Otero
Submarket
Parcels
R012456

Building Size

Building Size
30,944 SF
Rentable Space
30,944 SF

Building Details

Type
 Multi-Family: Low-Rise
Number of Buildings
6
Number of Units
32
Occupancy Type
Single Tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
2
Year Built
1983
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
1.32 Acres
Land (SF)
57,499 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
Lot Depth
Lot Width

Contacts

Current Listings

Questa Real Apartments in Alamogordo NM - 6.48% cap

30,944 SF$2,339,292
Cap Rate: 6.48%

NM Apartment Advisors is excited to bring to market a high cap rate, value add opportunity in Alamogordo, New Mexico. Located at 1301-1325 Filmore

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 amenities

Based 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.

Flyer, APOD, and property info at http://www.nmapartment.com/apt/NMAA-Fillmore1301Alamogordo.pdf

Virtual tours can be found at www.nmapartment.com/questareal3d1

And www.nmapartment.com/questareal3d2

And www.nmapartment.com/questareal3d3

Do not miss out on this rare opportunity for a value add asset in a growing market.

NM Apartment Advisors is excited to bring to market a high cap rate, value add opportunity in Alamogordo, New Mexico. Located at 1301-1325 Filmore

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 amenities

Based 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.

Flyer, APOD, and property info at http://www.nmapartment.com/apt/NMAA-Fillmore1301Alamogordo.pdf

Virtual tours can be found at www.nmapartment.com/questareal3d1

And www.nmapartment.com/questareal3d2

And www.nmapartment.com/questareal3d3

Do not miss out on this rare opportunity for a value add asset in a growing market.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: CARNM

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