Courtesy: NM Apartment Advisors, Inc.
505-440-8633
This 52-unit community is nestled in tall pines trees on a cul-de-sac just a short distance to the foothills of the Sacramento mountains and short drive to New Mexico's iconic White Sands national monument.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.)Built in 1986-1987, this 52 unit community has solid 2''x6'' construction, higher end finishes and vaulted ceilings in the upstairs units. The property contains 24 studios, 24 x 1 bedroom/1 bathrooms and 4 two bedrooms, two of which have garages.Based on an ask price of $4,724,000 the current average rents of $821 per month, the property's measures of investment performance include a 9.22 GRM, 7.50% cap rate before reserves
Own a Mobile Home Park! This property provides a rare investment opportunity along with mountain views, paved road access, and city utilities. The property offers FOUR mobile homes and a vacant lot that could house a FIFTH mobile home. This well-maintained park is a promising investment in the Alamogordo area. Drive by and give us a call right away!
The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.This property contains four one bedroom, one bathroom units with carpet or hardwood floors in the units. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and the 12 acre Alameda park and zoo.Based on the current average rents of $658 per month, the property's measures of investment performance include a 7. 40 GRM, 6.923% cap rate before reserves, before tax IRR of 19.70% and an after-tax IRR of 15.20%.If rents were raised to the submarket average of $825, the measures of investment performance improve to a 10.30% cap rate, and an outstanding 23.87% cash on cash.
Alamogordo is located in New Mexico. Alamogordo, New Mexico has a population of 30,963. Alamogordo is less family-centric than the surrounding county with 26.15% of the households containing married families with children. The county average for households married with children is 29.19%.
The median household income in Alamogordo, New Mexico is $45,531. The median household income for the surrounding county is $43,533 compared to the national median of $57,652. The median age of people living in Alamogordo is 37 years.
The average high temperature in July is 93.4 degrees, with an average low temperature in January of 31.6 degrees. The average rainfall is approximately 16.2 inches per year, with 3.9 inches of snow per year.
