1309-1315 Madeira dr Se & 5116-5120 eaStern ave SeaLBUQUerQUe, nM 87108

NEL KANTARES CORP 8100 Wyoming Blvd NE STE M4350 Albuquerque NM 87113

(505) 390-1002

STARDUST GARDENS APARTMENTS

PrOPertY OvervieW Stardust Gardens are a premium 16-unit multi-family offering designed and built by renowned Sandia Laboratories scientist, Dr Carl Baum. Dr Baum was also the owner occupant of the property. With a focus on efficiency and community this portfolio of four (4) buildings offers numerous lifestyle amenities to residents. The property is enclosed with private gate entrances and each unit has a private front yard. There are fourteen (14) spacious 2-bedroom units measuring 852 sqft. Each comes with Washer & Dryer and additional storage closet. There are also two (2) 3-bedroom 1,006 sqft townhomes, 2-levels with large yards. One of these was occupied by Dr Baum and has custom design features.

Strategically located off the corner of Gibson & San Mateo Blvd’s, the property is close to major employment centers as Kirtland Air Force base, Sandia Laboratories, Gibson Medical Center, University of New Mexico and Albuquerque’s International Sunport. Additionally, the new Orion Center development project will host Theia Group Inc. for the manufacture and testing of its advanced satellite systems. Stardust Gardens offers its residents off-street parking and access to restaurants, shops and other entertainment venues in nearby Nob Hill. The enclosed courtyard resembles an “Oasis” environment focusing on privacy and peaceful surroundings. With a superior quality of construction and well-maintained units, the property operates with an extremely high occupancy including several long-term tenants.

PRICE $1,275,000

PRICE PER UNIT $79,687

CAP RATE 6.52%

NOI $83,206

PROPERTY4 Buildings (16-Units)

LOCATIONKirtland aFB & aBQ Sunport

ZONING albuquerque r-2

YEAR BUILT 1979-1980

RENTABLE SF ±13,940 SF

SITE SIZE ±0.79 acres

LAUNDRY FACILITY in-unit Washer & dryer

METERED Separately

TERMS Cash to Seller

LEGAL Lots B-1, B-2, B-3, & B-4

DESCRIPTION Block 26, Summ Plat tract B

virginian Place addn

INCOME & EXPENSES 2020 PROFORMA

GrOSS POtentiaL rent $140,340 $158,940

Vacancy $3,725 $6,357

Concessions $575 $575

Other Rent Loss 0 0

net rentaL inCOMe $136,040 $152,008

Other Income 0 0

eFFeCtive GrOSS inCOMe

Monthly Revenue Average $11,337 $12,667

OPeratinG eXPenSeS

Repairs & Maintenance $5,814 $6,140

Contract Services $988 $800

Marketing $460 $460

Administrative $725 $725

Cleaning $390 $390

Labor / Bonuses $300 $300

Technology $372 $710

COntrOLLaBLe eXPenSeS

Water/Waste $11,407 $12,550

Electric $4,302 $4,890

Gas $1,667 $1,740

Management Fees $13,604 $15,200

Insurance $5,052 $5,052

Property Taxes $6,196 $7,050

Recurring Capital Expenditures $1,557 $1,200

tOtaL eXPenSeS $52,834 $57,207

NET OPERATING INCOME (NOI) $83,206 $94,801

PRICE $1,275,000

PROPERTY 4 Buildings (16-Units)

SITE SIZE ±0.79 acres

ZONING albuquerque r-2

BENEFITS• Near major employment centers• Gated entry & private walkways • Washer & Dryers in all units• Fourteen spacious 2-bedroom units• Separate front yards• Two 3-bedroom Townhomes• Additional storage units• Off-street parking

StardUSt GardenS aPartMentS FOr SaLe

NEL KANTARES CORP 8100 Wyoming Blvd NE STE M4350 Albuquerque NM 87113

(505) 390-1002

1309-1315 Madeira dr Se & 5116-5120 eaStern ave Se aLBUQUerQUe, nM 87108