13101 Wenonah+ 13100, 220 Dorado Avenue SE, Albuquerque, NM 87123
$6,095,000
Property Type:
Residential Income
Square Footage:
88,965
Lot Size (sq. ft.):
241,566
Status:
Closed
Current Price:
$6,095,000
List Date:
11/10/2016
Last Modified:
1/31/2018
Description
Amazing property and rare opportunity to invest in a value add deal.
- 14.63% cash on cash with new Freddie Mac
- 10 year ownership - eligible for 4% renovation/rehab tax credits
- 3 property portfolio allows for flexible exit strategy
- Acquire well below replacement cost
- Rents are 14% below submarket
- Competing properties are charging for RUBs
- Potential after tax IRR of 24.90%
Property under contract for 13 months to buyer who intends to redevelop with affordable housing - call Listing Broker for info on comparable sale.
More Information MLS# 869534
Status Change Info
Pending Date: 2016-12-07
Closing Date: 2018-01-31
Contract Information
Listing Price: 6095000
Current Price: $6,095,000
List Price/SqFt: 68.51
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 13101
Street Name: Wenonah+ 13100, 220 Dorado
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87123
Zip +4: 3868
Geo Lat: 35.066048
Geo Lon: -106.501846
Area: 71 - Southeast Heights
Zone Atlas: L22
City/County Data
UPC Code: 102205641432510403
Subdivision: Fale Add & 2 others
General Property Description
# of Units: 120
5+ Units: Yes
Units for Sale: 120
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 88965
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 5.55
Lot SqFt: 241566
Directions: From I-40 and Tramway exit south on Tramway, past Central (Route 66), right on Wenonah, 3 portfolio property is located at 13100 Wenonah SE, 13101 Wenonah SE, and 220 Dorado SE.
Do not Disturb management or residents.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 21
Year Built: 1980
Year Built Exception: Unknown
Age: 31 - 40
# Parking Spaces: 179
Disability Access: Unknown
LBP Disclosure: No
Builder: UNK
Owner Occupant Unit: No
Multiple Lots: Five
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 34986
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 884101
Operating Expenses: 409070
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 39
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 560
Actual Rent: 555
Max Rent: 554
Market Rent: 640
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 725
Actual Rent: 655
Max Rent: 655
Market Rent: 766
# of Unit Types (3)
# of Units: 48
# of Bedrooms: 2
# Baths: 1
Style: South
Approx. SqFt: 830
Actual Rent: 678
Max Rent: 719
Market Rent: 766
# of Unit Types (4)
# of Units: 32
# of Bedrooms: 2
# Baths: 1
Style: North
Approx. SqFt: 830
Actual Rent: 638
Max Rent: 830
Market Rent: 766
Unit Summary
Total Units: 120
Average Unit Size: 741.37
Average Actual Rent: 627.16
Annualized: 903120
Total Actual Rent: 75260
Property Features
Construction: Frame
Exterior Material: Stucco
Amenities: Balconies/Deck; Fireplace Some Units; Laundry Community
Appliances included: Blt-In Gas Stve/Oven; Dishwasher; Refrigerator
Utilities: All City
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Vinyl
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Sewer; Water; Other - See Remarks
Tenant Pays: Electric; Gas
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA
Source: Actual Record; Broker Provided; Owner Provided; Projection
Zoning: R-2
Documents
Flyer ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: January - 31 - 2018
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.