NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Exclusive VALUE: $180,000
    LOAN: $40,000
    EQUITY: $140,000
TITLE: ACRE MH LOTS WITH UTILITY- 10 UNITS- MORIARTY
TYPE OF PROPERTY: Land
HAVE: Have 10 one acre MH lots with community water,gas,electric, phone...just need septic. about 25 minutes East of Albuquerque.$18K/lot or discount with package sale.
WEBSITE ADDRESS: http://www.coldwellbanker legacy.com
PARCEL#: MLS # 86487299    
CITY, STATE: Moriarty, NM COUNTY: Torrance
BENEFITS TO NEW OWNER: Hard to find single wide OK lots (and double wide lots) with utility. Seller motivated...moved to GA. Can split - debt only on 4 lots of group..others free/clear. Can move to trade property.
GROSS SCHEDULED INCOME: $36,000    Projected
VACANCY LOSS: $1,500
GROSS EFFECTIVE INCOME: $34,500
EXPENSES: $199
NOI: $34,301
DEBT SERVICE: $6,000
CASH FLOW: $28,301
CAP RATE: 19.06%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $40,000 $500 8.00% 2018 Y
LOAN 2:      
BENEFITS SOUGHT: Get rid of this inventory & convert non-productive asset. Liquidating all NM property to move to GA.
CAN ADD: Two SFR rental homes $149,000(F&C)-$199,000($99K-assumable debt)). Personal residence $600,000.(SOLD)
REMARKS: Seller open to exchange for SFR/TH,etc. as a go through property. Seller will carry note with releases. Substitute paper considered. Have done many deals!!
COUNSELOR: Frank Andreone
Coldwell Banker Legacy
6767 Academy NE
Albquerque, NM 87109
Phone: (505) 857-2294
Fax: (505) 212-9380
land4u.nm@gmail.com
 
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