$1,098,000
Calculate Payment
W 1111 & 1115 Mckay Street Carlsbad, NM 88220
Multi-Family
Residence
Beds
Baths
Sq. Ft.
0.16
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
Saves
Recently remodeled units feature open floorplans with large eat-in kitchens, living areas with wood burning 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 new30-year... 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 $1,098,000 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#
20243032
Property Type
Multi-Family
Year Built
2003
Lot Size
0.16
Stories
2.0
Sewer
Sewer Connected
Receive an email as soon as the price changes
Receive an email
as soon as the price changesGet Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Get email alerts when
a home price changes
Sign up
Enter your work address to view actual drive times with traffic for this property.
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Get prequalified today and learn more.
Nearby Homes For Sale
Just Listed
And
Homes Available
In