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2100 Stardust Ct

Alamogordo, NM 88310

$2,125,000

Apartments For Sale  •  32,328 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 32,328 Sq Ft
  • Lot Size 1.92 ac
  • Building Class C
  • Year Built 1987
  • Cap Rate 8.31 %
  • Zoning R-4
0 Transit Score
21 Walk Score

Description

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%.
29 page flyer, area overview, property info, APOD, IRR and virtual tour can be found at in documents or by emailing listing broker.


Alamogordo is experiencing a lot of new growth and I welcome your questions and offers for this amazing opportunity.

Highlights

Offered by Original Developer
Well Located
Attractive Landscaping

Property Flyers

Financial Summary (Actual)

Net Operating Income: $228,615 (2017)
Cap Rate: 8.31 %
Total Expenses: $107,385

Amenities

  • Heating
  • Kitchen
Todd Clarke 505-440-8633 NM Apartment Advisors
Todd Clarke 505-440-8633 NM Apartment Advisors