652 Vancouver Road SE
Rio Rancho, NM 87124

652 Vancouver SE sits at the end of a very quiet cul-de-sac and backs up to Rio Rancho open space. These nicely apportioned units were recently fully renovated with quality contemporary fixtures and finishes. Apartments include washer/dryer hookups and offer residents private yard spaces with unobstructed high desert mesa views from their private patios.The property contains two bedroom, one bath apartment homes, with wonderful single story floorplans and private yard areas as well as separate west facing storage rooms.Measures of investment performance at ask price of $595,000 with a current average rent of $1,163 are a GRM of 10.66, a 5.90% cap rate before reserves, 5.75% cap rate after reserves, 11.80% after tax IRR, $148,750 per unit, and a price per sf of $220.37.