1111 W Mckay Street Carlsbad, NM 88220

Multi-Family Residence

1 Beds

Baths

3,292 Sq. Ft.

0.18 Acre Lot

Property Activity

Time on Site

days

Days on Market

Views

Saves

Last updated on 9/21/2024 8:38 PM

Listing Details

Recently remodeled units feature open floorplans with large eat-in kitchens, living areas with woodburning fireplaces, and bedrooms with plenty of storage – all complimented by custom woodwork and quality, hardy contemporary finishes throughout. Add all that to updated thermal windows, a new 30-yea...r roof, upgraded stucco and paint, and a new common laundry room, and you’ve got a turnkey investment that will allow the next owner to truly reap the benefits of one of New Mexico’s fastest growing and appreciating real estate markets (without the headache of inheriting deferred maintenance and urgent projects with no upside). Carlsbad continues to grow exponentially as high paying jobs are generated in oil and gas production, agriculture, and one of the most solid tourism sectors in the southwestern united states. Beyond the boom economy, people choose to live in the "the Pearl on the Pecos" for its high quality of life, good schools, and unique recreation opportunities. Now is the right time to tap into one of the nation’s premiere, undiscovered multi-family investment markets. Measures of investment performance at the ask price of $549,000 and with average rent of $1,150 include GRM of 11.22, Before Reserves Cap rate of 6.07% and after tax IRR of 13.80%. If rents are raised to market average of $1,324, the cap rates goes to 6.78%. Continue reading

MLS#

20241468

Property Type

Multi-Family

Bedrooms

Year Built

2003

Square Feet

3,292 sq. ft

Price per Sq. Ft.

$166.77

Lot Size