1116 Coal Avenue SW, Albuquerque, NM 87102
$3,399,865
Property Type:
Residential Income
Square Footage:
25,140
Lot Size (sq. ft.):
53,483
Status:
Closed
Current Price:
$3,399,865
List Date:
9/26/2018
Last Modified:
1/06/2019
Description
Property portfolio under contract to 3 different buyers - will move into separate MLS entries.
Amazing portfolio of 1980s vintage downtown Albuquerque apartments.
Three gated communities totaling 49 units with a management office and laundry facility at each address.
Measures of investment performance at ask price of $3,399,865 and current average rent of $545 are a GRM of 10.62, a 5.50% cap rate, $69,385 per unit, $135/sf.
If rents are raised to market of $862, measures of investment performance increase to a GRM of 6.69, and a 11.04% cap rate.
More Information MLS# 929230
Status Change Info
Pending Date: 2018-12-04
Closing Date: 2018-12-31
Contract Information
Listing Price: 3399865
Current Price: $3,399,865
List Price/SqFt: 135.24
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 1116
Street Name: Coal
St Suffix: Avenue
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 5910
Geo Lat: 35.081524
Geo Lon: -106.661643
Area: 80 - Downtown Area
Zone Atlas: K13
City/County Data
UPC Code: 101305739231110910
Subdivision: Raynolds Add
General Property Description
# of Units: 49
5+ Units: Yes
Units for Sale: 49
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 25140
Lot Size Source: On-Line
Acres: 1.23
Lot SqFt: 53483
Directions: From I-25 and Coal/Lead - west on Coal to 816, 1021 and 1116 Coal SW
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 6
Year Built: 1987
Age: 21 - 30
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: Yes
Multiple Lots: Three
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 24100
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 49
# of Bedrooms: 1
# Baths: 1
Style: studio, 1 & 2s
Approx. SqFt: 513
Actual Rent: 545
Max Rent: 575
Market Rent: 862
Unit Summary
Total Units: 49
Average Unit Size: 513
Average Actual Rent: 545
Annualized: 320460
Total Actual Rent: 26705
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Laundry Equip. Owned
Appliances included: Refrigerator
Utilities: All City
Heating: Gas
Cooling: Evaporative Cooling
Flooring: Carpet; Vinyl
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA
Zoning: SU-2
Flyer, APOD, floorplans and more ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: January - 06 - 2019
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