Multi Family In Alamogordo

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