222 MAPLE Street NE, Albuquerque, NM 87106
$3,000,000
Property Type:
Residential Income
Square Footage:
30,849
Lot Size (sq. ft.):
50,384
Status:
Closed
Current Price:
$3,000,000
List Date:
10/08/2020
Last Modified:
1/01/2021
Description
This clean, gated, well-maintained complex is within walking distance to UNM and in the heart of ABQ, making these studio units easy to rent. In addition to the two three-story buildings, the site has sidewalks, patios, and paved open parking. Landscaping includes xeriscaping and trees and shrubs. Many of the units have been remodeled with vinyl plank flooring, ceramic tile bathrooms and an updated kitchenette area. Laundry facilities and an managers office are on site. Average unit rents are $550 giving this property a GRM of 5.83! The cap rate of 10.13% makes this investment property an easy decision to make.
More Information MLS# 978035
Status Change Info
Pending Date: 2020-10-07
Closing Date: 2020-12-31
Contract Information
Listing Price: 3000000
Current Price: $3,000,000
List Price/SqFt: 97.25
Status: Closed
Bank Owned: No
Location
Street #: 222
Street Name: MAPLE
St Suffix: Street
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 4612
Geo Lat: 35.083426
Geo Lon: -106.629267
Area: 40 - UNM
Zone Atlas: K15
City/County Data
UPC Code: 101505730537611409
Subdivision: NA
General Property Description
# of Units: 77
5+ Units: Yes
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 30849
SqFt Source: Per Appraisal
Apx Lot Dim Front: 450
Apx Lot Dim Side: 250
Lot Size Source: Per Appraisal
Acres: 1.16
Lot SqFt: 50384
Directions: From University and Central, head West on Central to Maple St. Turn North (right) on Maple St to apartment complex on your right.
Stories: 3
Total # of Buildings: 2
Year Built: 1979
Age: 41 - 50
# Parking Spaces: 110
Disability Access: Unknown
LBP Disclosure: No
Builder: unknown
Owner Occupant Unit: No
Multiple Lots: Three
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 24259.35
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 469468
Operating Expenses: 174433
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 77
# Baths: 1
Style: Studio
Approx. SqFt: 400
Actual Rent: 550
Max Rent: 6600
Market Rent: 575
Unit Summary
Total Units: 77
Average Unit Size: 400
Average Actual Rent: 550
Annualized: 508200
Total Actual Rent: 42350
Property Features
Construction: Block
Exterior Material: Masonite
Build Description: Resale
Amenities: Laundry Community; Laundry Equip Leased; Outside Lights; Some Landscaping
Appliances included: Frestnd Elec Stv/Ovn; Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Electric; Perimeter/Baseboard
Cooling: Evaporative Cooling
Flooring: Tile; Vinyl
Electric Provider: Public Utility
Electric: None
Metering: All Master Metering
Operating Expenses: Accounting and Legal; Advertiseing; Insurance; Property Management; Property Taxes; Repairs/Maintenance; Utilities
Owner Pays: Electric; Gas; Maintenance; Sewer; Trash Removal; Water
Tenant Pays: None
Parking: 1.5 Spaces Per Unit; Paved Lot
Roof: Flat; TPO (G)
Rental Info: Call Listing Broker; Rental History Avail
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided; Projection
Zoning: R-T*
Listing Office: Lucky Dog Realty, LLC
Last Updated: January - 01 - 2021
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