1712 Lead Avenue SE, Albuquerque, NM 87106
$222,000
Property Type:
Residential Income
Square Footage:
2,062
Lot Size (sq. ft.):
6,534
Status:
Closed
Current Price:
$222,000
List Date:
3/09/2017
Last Modified:
8/16/2017
Description
Attractive and well maintained triplex that is located within walk distance of UNM and CNM's 45,000 students.
Measure of investment performance at ask price of $222,000 include a cap rate of 6.8%, cash on cash of 13.0%, before tax IRR of 22.5%, after tax IRR of 17.7%. Comparable sales and competing available properties supports a value range of $259,108 to $292,416. Proforma CAP rate of 8.9%.
Updated and improved over the decades the property includes (3) laundry areas - 1 for each apartment with stackable washer/dryer hooksups and new concrete alley entry drive pad.
Property tour scheduled for 3/28 at noon, offer deadline 4/4 at 5pm (MST).
Do not disturb residents or walk property - only available date for showing is the tour date.
More Information MLS# 886232
Status Change Info
Pending Date: 2017-04-12
Closing Date: 2017-05-17
Contract Information
Listing Price: 222000
Current Price: $222,000
List Price/SqFt: 107.66
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 1712
Street Name: Lead
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 4486
Geo Lat: 35.078164
Geo Lon: -106.627857
Area: 42 - UNM South
Zone Atlas: K15
City/County Data
UPC Code: 101505735318741409
Subdivision: Terrace Add
General Property Description
# of Units: 3
5+ Units: No
Units for Sale: 3
Property Sub-Type: Triplex
Apx Structured SqFt: 2062
SqFt Source: Per Appraisal
Lot Size Source: On-Line
Acres: 0.15
Lot SqFt: 6534
Directions: From I-25 and Coal exit - east to Buena Vista, north to Lead, south to property.
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 2
Year Built: 1935
Age: 1 - 3
# Parking Spaces: 5
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unkmown
Owner Occupant Unit: Yes
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2729.86
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 25269
Operating Expenses: 10264
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: House
Approx. SqFt: 950
Actual Rent: 785
Max Rent: 1018
Market Rent: 1018
# of Unit Types (2)
# of Units: 1
# Baths: 1
Style: Studio
Approx. SqFt: 362
Actual Rent: 565
Max Rent: 570
Market Rent: 625
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: Lofts
Approx. SqFt: 750
Actual Rent: 805
Max Rent: 1018
Market Rent: 1018
Unit Summary
Total Units: 3
Average Unit Size: 687.33
Average Actual Rent: 718.33
Annualized: 25860
Total Actual Rent: 2155
Property Features
Construction: Frame
Exterior Material: Stucco
Amenities: Tenant Storage
Appliances included: Refrigerator
Utilities: All City
Heating: Gas
Cooling: Evaporative Cooling
Flooring: Carpet; Tile; Wood
Metering: Individual Electric; Individual Gas
Operating Expenses: All
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Parking: 1.5 Spaces Per Unit
Roof: Pitched
Rental Info: Month To Month
Finance Considered: Cash; Conventional; FHA; VA
Source: Actual Record; Owner Provided
Zoning: SU-2
Lead Based Paint ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: August - 16 - 2017
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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