About 2500 Florida Avenue
This property contains three extraordinarily large two bedroom units and a one bedroom. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and major mall.Based on the current average rents of $850 per month, and an ask price of $364,490 the property's measures of investment performance include a 8.93 GRM, 7.27% cap rate before reserves, before tax IRR of 20.80% and an after-tax IRR of 15.80%. Rents recently increased 6.25% over year end 2021.If rents were raised to the submarket average of $925, the measures of investment performance improve to a 8.11% cap rate, and an outstanding 15.79% cash on cash.The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Pred
Features of 2500 Florida Avenue
| MLS® # | 1006441 |
|---|---|
| Price | $364,490 |
| Bedrooms | 2 |
| Bathrooms | 1.00 |
| Square Footage | 3,984 |
| Acres | 0.42 |
| Year Built | 1959 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Pending |
Community Information
| Address | 2500 Florida Avenue |
|---|---|
| Area | 550 - Otero |
| Subdivision | Haynes Addition |
| City | Alamogordo |
| County | Otero |
| State | NM |
| Zip Code | 88310 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Tile, Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air, Wall Furnace |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Construction | Frame |
|---|
Additional Information
| Date Listed | December 28th, 2021 |
|---|---|
| Days on Market | 298 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|