|
Location: |
1031, 1035, 1039 High Street, Grants, NM |
|
Total Square Feet: |
18,120 |
|
Land for Expansion: |
none |
|
Total Units: |
24 - consisting of three 8-plexes |
|
Unit Size: |
1 bedroom - 675 sq. ft.
2 bedroom - 850 sq. ft. |
|
Unit Configuration: |
Each 8-plex contians six 2-bedroom units and two 1-bedroom units |
|
Lease Term: |
6 months minimum |
|
Security Deposit: |
$300 |
|
Occupancy: |
Proforma based on 95% |
|
Year Built: |
1978-1980 |
|
Number of Buildings: |
3 |
|
Exterior Construction: |
Frame/Stucco |
|
Foundation: |
Concrete slab |
|
Roof: |
Built-up |
|
Fencing: |
Decorative stucco with wrought iron at rear of property |
|
Utilities: |
Units separately metered (electric and gas) which individual tenant
pays. Water, sewer and garbage paid by owner |
|
Paving: |
Asphalt |
|
Traffic Exposure: |
Very good. Located one block off Grants main street directly behind
Blake's Lotaburger |
|
Manager's Apartment: |
Manager receives as compensation a free, 2-bedroom apartment and $500
per month |
|
Laundry Room: |
A laundry room with wahsers & dryers owned by seller is located
in one of the 8-plexes and is available for use by all tenants.
Income from laundry is approx. $1,500 per year |
|
Price: |
$800,000 (includes completion of refurbishing of the third 8-plex,
estimated withing next 60 days) |
|
Net Operating Income: |
$81,000 |
|
Proposed Cap Rate: |
10% + |
