2500 Florida Avenue, Alamogordo, NM

$364,490

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2

Beds

1

Bath

3,984

Square feet

0.42

Acres

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

OfficeNM Apartment Advisors, Inc.

Listing Map

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