MLS# 1067286 – 7600 Central Avenue Se, Albuquerque, NM 87108
The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*
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