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SVN | Fortune Real Estate | 214 W. Franklin Ave, El Paso, TX 79901 OFFERING MEMORANDUM
LOS ARCOSAPARTMENTS4600 ALABAMA STEL PASO, TX 79930
James SalomeSenior [email protected]
Landry McKeeAssociate [email protected]
OFFERING SUMMARY
Sale Price: $3,100,000
Number Of Units: 60
Cap Rate: 6.15%
NOI: $190,800
Lot Size: 2.02 Acres
Year Built: 1949
Building Size: 59,322
Renovated: 2000
Zoning: A2
Market: North East
Price / SF: $52.26
60 units, well maintained, in a desireable location, near freeways, retail, and Fort Bliss Army Base. Potential rental incomeof over $40k a month with separate meters, refrigerated air, pool, managers office, and private patios.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Healthy Mixture of 1 bed, 2 bed, and 3 bed units
• Ample Parking
• Refrigerated Air
• Large floorplans
• Upside (high vacancy rate)
• Pitched roofs with refrigerated air conditioning
• Community Pool and Office
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 2
Executive Summary
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 3
60 units, well maintained, in a desireable location, near freeways, retail, and Fort Bliss Army Base.Potential rental income of over $40k a month with separate meters, refrigerated air, pool, managersoffice, and private patios.
PROPERTY OVERVIEW
At the north corner of Alabama St and Mckelligon Canyon Rd, between Fred Wilson and Fort. Property isacross the street from the Franklin Mountains State Park and near US 54 and Interstate 10.
LOCATION OVERVIEW
Property Description
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 4
SALE PRICE $3,100,000
LOCATION INFORMATION
Building Name Los Arcos Apartments
Street Address 4600 Alabama St
City, State, Zip El Paso, TX 79930
County/Township El Paso
Market North East
Cross Streets McKelligon and Alabama
BUILDING INFORMATION
Building Size 59,322 SF
Occupancy % 85.0
Number Of Floors 2
Average Floor Size 1,000 SF
Year Built 1949
Last Renovated 2000
Load Factor Yes
PROPERTY DETAILS
Property Type Multifamily
Property Subtype Low-Rise/Garden
Zoning A2
Lot Size 2.02 Acres
APN# M29699900100100
Property Details
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 5
SALE HIGHLIGHTS
• Healthy Mixture of 1 bed, 2 bed, and 3 bed units
• Ample Parking
• Refrigerated Air
• Large floorplans
• Upside (high vacancy rate)
• Pitched roofs with refrigerated air conditioning
• Community Pool and Office
Complete Highlights
LOS ARCOS APARTMENTS | 4600 ALABAMA ST EL PASO, TX 79930 SVN | Fortune Real Estate | Page 6
Additional Photos
LOS ARCOS APARTMENTS | 4600 ALABAMA ST EL PASO, TX 79930 SVN | Fortune Real Estate | Page 7
Location Map
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 8
Los Arcos Apartments
Aerial Map
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 9
INVESTMENT OVERVIEW
Price $3,100,000Price per Unit $51,666GRM 9.8CAP Rate 6.2%Cash-on-Cash Return (yr 1) 6.15 %Total Return (yr 1) $190,800Debt Coverage Ratio -
OPERATING DATA
Gross Scheduled Income $316,800Other Income -Total Scheduled Income $316,800Vacancy Cost $10Gross Income -Operating Expenses $126,000Net Operating Income $190,800Pre-Tax Cash Flow $190,800
FINANCING DATA
Down Payment $3,100,000Loan Amount -Debt Service -Debt Service Monthly -Principal Reduction (yr 1) -
Financial Summary
UNIT TYPE COUNT % TOTAL SIZE (SF) RENT MIN. RENT MAX RENT RENT/SF MARKET RENT MARKET RENT/SF DEPOSIT
1 bed 1 bath 16 26.7 775 $650 - - $0.84
2 bed 1 bath 17 28.3 900 $675 - - $0.75
2 bed 1.5 bath 9 15.0 1,075 $725 - - $0.67
2 bed 2 beth 16 26.7 1,225 $750 - - $0.61
3 bed 2 bath 2 3.3 1,490 $800 - - $0.54
Totals/Averages 60 100% 59,955 $42,000 $0.00 $0.00 $0.70 $0 $0
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 10
Unit Mix Summary
1
1979Year Built: 22,750 SFBldg Size:1 AcresLot Size: 35No. Units:652 SFAvg. Size: $702Avg. Rent:90%Occupancy: $1.08Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 BED 18 51.4 588 $685 $1.16
2 BED 17 48.6 720 $720 $1.00
TOTAL/AVG 35 100% 652 $702 $1.08
! and 2 bedrooms, in the downtown area
TRES VISTAS1600 Arizona AveEl Paso, TX 79902
1
2
253,374 SFBldg Size: 0 AcresLot Size:1,047 SFAvg. Size: $834Avg. Rent:$0.80Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed 100 41.3 775 $650 $0.84
2 bed 100 41.3 1,155 $907 $0.79
3 bed 42 17.4 1,440 $1,104 $0.77
TOTAL/AVG 242 100% 1,047 $834 $0.80
HIGH VISTA APARTMENTS5041 AlabamaEl Paso, TX 79930
2
3
107,690 SFBldg Size: 0 AcresLot Size:978 SFAvg. Size: $709Avg. Rent:$0.72Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed 32 29.1 685 $600 $0.88
2 bed 72 65.5 1,048 $736 $0.70
3 bed 6 5.5 1,717 $975 $0.57
TOTAL/AVG 110 100% 978 $709 $0.72
CANYON HILLS9010 Magnetic DrEl Paso, TX 79904
3
LOS ARCOS APARTMENTS | 4600 ALABAMA ST EL PASO, TX 79930 SVN | Fortune Real Estate | Page 11
Rent Comps
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 12
1 1600 Arizona AveEl Paso, TX 79902
TRES VISTAS2 5041 Alabama
El Paso, TX 79930
HIGH VISTA APARTMENTS3 9010 Magnetic Dr
El Paso, TX 79904
CANYON HILLS
4600 Alabama St | El Paso, TX 79930SUBJECT PROPERTY
Rent Comps Map
LOS ARCOS APARTMENTS | 4600 ALABAMA ST, EL PASO, TX 79930 SVN | Fortune Real Estate | Page 13
214 W. Franklin AveEl Paso, TX 79901T 915.544.6208C [email protected]
PROFESSIONAL BACKGROUND
Landry Mckee has an extensive background in general contracting. He is a recently licensed agent and specializes inland, multi family, industrial, and office.
He enjoys hiking, camping, and travel.
EDUCATION
BA St. Edwards, Austin TexasDegree in Kinesiology
LANDRY MCKEE
Associate Advisor
Advisor Biography
