6116 Central Ave Sw is amulti-family property for lease in Albuquerque, NM.
Well located 11 unit apartments on C-2 parcel on West Route 66 (Central Avanue) just east of Coors Blvd and on the Rapid Ride, Route 66 (and soon to be Albuquerque Rapid Transit or ART) mass transit corridor.
Originally constructed as a historic auto court motel, the property has had a variety of names including Siesta Court and Vista court in the 1960s, currently known as the West Central Route 66 apartments at 6116 Central SW.
Current owner is motivated for a 2014 sale – and has priced the property to move at $299,000 or $27,182/per unit, $72/sf, 9.2% CAP rate, 13.00% Cash on cash, 17.8% before tax IRR, and 12.9% after tax IRR.
Download the seven page flyer here - http://www.nmapartment.com/apt/NMAA-6116CentralSW
Property tour scheduled for Noon on December 16th, 2014 with an offer deadline of December 30th, 2014.
Register for the tour and additional confidential documents at www.nmapartment.com/rt66