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Freedom Flats Apartments 1301 Filmore Ave 32 Unit Apartment Building $4,149,999 ($129,687/Unit) 7.23% Cap Rate Alamogordo, NM 88310
Investment Highlights
- Attractive In-Place Returns
- Exceptional Performance and Debt Options
- Exceptional agency debt quotes at 5.38% interest rate
- 7.0% Cap Rate on current | 7.9% Pro Forma Cap Rate with light operational optimization | 13.34% Average Cash-on-Cash Return, with 11.28% in Year One
- 97% Occupancy reflects strong tenant retention and market demand
- 168 Basis Point Spread between in-place cap rate and quoted debt (5.38% interest rate), enhancing leveraged returns
Executive Summary
Broker of Record
Brian Brockman
License # 9568 (NM)
Bang Realty-New Mexico, Inc.
2939 Vernon Place, Cincinnati, OH 45219
(866) 889-0550
Brian Brockman
License # 9568 (NM)
Bang Realty-New Mexico, Inc.
2939 Vernon Place, Cincinnati, OH 45219
(866) 889-0550
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $4,149,999 | Building Class | C |
| Price Per Unit | $129,687 | Lot Size | 1.22 AC |
| Sale Type | Investment | Building Size | 30,944 SF |
| Cap Rate | 7.23% | No. Stories | 2 |
| No. Units | 32 | Year Built | 1984 |
| Property Type | Multifamily | Parking Ratio | 0.81/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-4 | ||
| Price | $4,149,999 |
| Price Per Unit | $129,687 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.22 AC |
| Building Size | 30,944 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 0.81/1,000 SF |
| Zoning | R-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 32 | - | 967 |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $495,701 | |
| Land Assessment | $55,647 | Total Assessment | $551,348 |
Property Taxes
Parcel Numbers
Land Assessment
$55,647
Improvements Assessment
$495,701
Total Assessment
$551,348
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Freedom Flats Apartments | 1301 Filmore Ave
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