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 Site433

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:
433
low | high
Med:
867
49.942329873126% of Average
Listing Updated: 06/17/2018
MLS Number: 889003
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.