Tim Fish - Coldwell Banker Legacy
2100 Stardust
Alamogordo, NM 88310

Description

The recently renovated and refreshed and Pines apartments are back on the market.Offered by original developer's family, the Pines apartments are located on a street infused with tall pine trees and mature landscaping.Built in 1986-7 and refreshed in the last few months, at the ask price of $2,125,000 and with an average rent of $459, the property measure of investment performance include a GRM of 67.42, a before reserves CAP rate of 8.31%, 14.02% cash on cash, and an after Tax IRR of 14.5%.If rents were bumped to market of $539, the CAP Rate improves to 10.41% and the cash on cash to 18.23%.

Details

MLS#889003
Sub-TypeResale
StatusActive
Year1987
Days On Site531

Features

SQ Feet32,328
Units52
Building(s)7

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Area Information

StateNM
CountyOtero
CityAlamogordo
Zip Code88310
Area550 - Otero
Listing VS Median (in 88310)
Price:
$2,125,000
low | high
Med:
$549,450
100% of Average
SqFt:
32,328
low | high
Med:
0
100% of Average
$ / SqFt:
$66
low | high
Med:
$0
100% of Average
On Site:
531
low | high
Med:
964
55.082987551867% of Average
Listing Updated: 09/23/2018
MLS Number: 889003
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.