Residences at Copper Ave | 12710 San Jacinto
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Residences at Copper Ave 12710 San Jacinto
10 Unit Apartment Building $2,095,000 ($209,500/Unit) 5.70% Cap Rate Albuquerque, NM 87123
Investment Highlights
- Construction completed in January 2024
- Units leased well below market rents
- 7.05% CAP Pro-Forma
- Property is 100% leased
- Current NOI - 118,858.20 - 5.7% CAP
- 12.64 GRM
Executive Summary
Welcome to The Residences @ Copper, a collection of ten newly constructed residences nestled near the majestic Sandia Mountains. This thoughtfully designed community offers a harmonious blend of modern luxury & simplicity, in a submarket that is quickly redeveloping. A local developer has recently completed the job and leased the community up to 100% occupancy. All units offer spacious and well appointed interiors, thoughtfully designed to maximize natural light and optimize living space. Each unit is 3-stories, containing living units on floor one, with primary units on each floor above. Each townhome has it’s own dedicated outdoor patio. Modern finishes, including concrete flooring, quartz countertops, and stainless-steel appliances, elevate the overall living experience. The townhomes are equipped with energy-efficient features, including smart thermostats, LED lighting, and high-efficiency appliances, and new high-efficiency HVAC systems. This newly constructed development is a great opportunity to purchase a brand new asset that requires little upkeep and maintenance expense, while increasing rents to market averages.
Property Facts
| Price | $2,095,000 | Apartment Style | Low Rise |
| Price Per Unit | $209,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.38 AC |
| Cap Rate | 5.70% | Building Size | 11,040 SF |
| Gross Rent Multiplier | 12.64 | No. Stories | 3 |
| No. Units | 10 | Year Built | 2023 |
| Property Type | Multifamily | Parking Ratio | 0.91/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,095,000 |
| Price Per Unit | $209,500 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Gross Rent Multiplier | 12.64 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.38 AC |
| Building Size | 11,040 SF |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 0.91/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 10 | - | - |
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PROPERTY TAXES
| Parcel Number | 1-022-057-286252-4-17-18 | Improvements Assessment | $0 |
| Land Assessment | $7,333 | Total Assessment | $7,333 |
PROPERTY TAXES
Parcel Number
1-022-057-286252-4-17-18
Land Assessment
$7,333
Improvements Assessment
$0
Total Assessment
$7,333
zoning
| Zoning Code | MX-M (MX-M zoning is to provide for a wide array of moderate-intensity retail, commercial and institutional opportunities) |
| MX-M (MX-M zoning is to provide for a wide array of moderate-intensity retail, commercial and institutional opportunities) |
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Residences at Copper Ave | 12710 San Jacinto
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