200 Madison & 204 Street NE, Albuquerque, NM 87108
$728,484
Property Type:
Residential Income
Square Footage:
4,978
Lot Size (sq. ft.):
21,148
Status:
Closed
Current Price:
$728,484
List Date:
9/30/2020
Last Modified:
3/16/2023
Description
Located on the northeast corner of Copper and Madison at 200-4 Madison NE, the property is lined with majestic trees, lush landscaping and garages. Each unit is its own front porch and/or backyard areas giving the residences the sense of being small patio homes. The property also offers a total of 7 garages with rear alley access and most of the residences have their own private back yard.
Value add opportunities include:
-RUBs for water/sewer/trash
-charge for garage rentals
-catch the mostly month to month leases up to the rapid rent increases that this submarket experienced in 2020
the start price of $728,484 and an average rent of $968 the measure of investment performance include a GRM of 11.00, a CAP rate of 5.97%, a price per unit of $121,414, a price per square foot of $1
More Information MLS# 978217
Status Change Info
Pending Date: 2021-02-22
Closing Date: 2021-03-31
Contract Information
Listing Price: 728484
Current Price: $728,484
List Price/SqFt: 146.34
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 200
Street Name: Madison & 204
St Suffix: Street
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 1383
Geo Lat: 35.080371
Geo Lon: -106.59158
Area: 40 - UNM
Zone Atlas: K17
City/County Data
UPC Code: 101705738127110418
Subdivision: Heights Reservoir Addn
General Property Description
# of Units: 6
5+ Units: Yes
Units for Sale: 6
Property Sub-Type: 6 Units
Apx Structured SqFt: 4978
Lot Size Source: On-Line
Acres: 0.49
Lot SqFt: 21148
Directions: From I-40 and Carlisle - south to Copper, east to Madison and property. (NEC)
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 5
Year Built: 1951
Age: 51 - 60
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Two
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 3011.26
Tax Exemption: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 200A
Approx. SqFt: 804
Actual Rent: 980
Max Rent: 980
Market Rent: 1000
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 200B
Approx. SqFt: 804
Actual Rent: 890
Max Rent: 980
Market Rent: 1000
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 200C
Approx. SqFt: 804
Actual Rent: 1000
Max Rent: 1000
Market Rent: 1100
# of Unit Types (4)
# of Units: 1
# of Bedrooms: 3
# Baths: 1
Style: 204A
Approx. SqFt: 958
Actual Rent: 1030
Max Rent: 1030
Market Rent: 1100
# of Unit Types (5)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 204B
Approx. SqFt: 804
Actual Rent: 960
Max Rent: 960
Market Rent: 1000
# of Unit Types (6)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 204C
Approx. SqFt: 804
Actual Rent: 950
Max Rent: 960
Market Rent: 1000
Unit Summary
Total Units: 6
Average Unit Size: 829.66
Average Actual Rent: 968.33
Annualized: 69720
Total Actual Rent: 5810
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Wood
Electric Provider: Public Utility
Electric: None
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Call Listing Broker; Other - See Remarks
Finance Considered: Cash; FHA; VA
Source: Actual Record; Broker Provided; Owner Provided
Zoning: MX-T*
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: March - 16 - 2023
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