2500 Florida Avenue
Alamogordo, NM 88310

  • 2 beds
  • 1 bath
  • 3,984 sqft
  • ~1/2 acre lot
  • $91 per sqft
  • 1959 build
  • on site

This property contains three extraordinarily large two bedroom units and a one bedroom. Location is the real key for this property as its walking distance to Alamogordo's main retail corridor and major mall.Based on the current average rents of $850 per month, and an ask price of $364,490 the property's measures of investment performance include a 8.93 GRM, 7.27% cap rate before reserves, before tax IRR of 20.80% and an after-tax IRR of 15.80%. Rents recently increased 6.25% over year end 2021.If rents were raised to the submarket average of $925, the measures of investment performance improve to a 8.11% cap rate, and an outstanding 15.79% cash on cash.The area economy is driven by the military (Holloman air force base, home to the 54th Fighter group and the MQ-9 Reaper/Pred

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

Last checked: Checking… • Last updated Jun 19, 2022 •

MLS# 1006441 —

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Sale history

Date Event Source Price % Change
12/28/21
Listed / Active SWMLS $364,490

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