118-120 W Berger St, Santa Fe, NM 87505

CALLING ALL INVESTORS!!! Sweet South Capitol Fourplex offered for the first time since 1982. Ample on-site parking. This fourplex unit mix consists of a single 2 bed/1 bath unit and three 1 bed/1 bath units. No washer/dryers. Leases are month to month. R21 zoning allows for multifamily residential use. The property has non-contributing historic status but there are HDRB restrictions on changing the portal/façade on the original 1950's back part of the building. The 1983 addition to the front of the building has more flexibility for expansion. All 4 units have their own electrical meter. Unit 118 and 120 A have gas heat on a single meter. Units 120B and 120C are all- electric units. Measures of current investment performance are a GRM of 21, pre reserves CAP rate of 4.86%, price per square foot of $333/sf and price per unit of $262,000/unit. Proforma measurements of investment performance is estimated at a cap rate of 8% and a GRM of 12.5. Please do not disturb tenants.