1301 Filmore (1309 1325) Avenue
Alamogordo, NM 88310

  • 2 beds
  • 1 bath
  • 30,944 sqft
  • ~1 acre lot
  • $75 per sqft
  • 1984 build
  • on site

This 32 unit community is surrounded by mature landscaping and is short walking distance to major retail and employment centers.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.Based on the current average rents of $602 per month, the property's measures of investment performance include a 10.13 GRM, 6.48% cap rate before reserves, before tax IRR of 13.40% and an after tax IRR of 10.50%.If rents were raised to the submarket average of $750, the measures of investment performance improve to a 8.15% cap rate, and 14.91% cash on cash.Additional value add opportunities include adding high speed internet and private yard spaces which could increase the value by another $449,032. (see page 8)

South West MLS logo Listing courtesy of SWMLS / NM Apartment Advisors, Inc.

Last checked: Checking… • Last updated Sep 22, 2022 •

MLS# 1011228 —

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Sale history

Date Event Source Price % Change
9/16/22
Pending SWMLS $2,339,292
4/25/22
Relisted SWMLS $2,339,292
3/31/22
Pending SWMLS $2,339,292

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