300 San Mateo Boulevard NE, Albuquerque, NM 87108 (MLS# 1033561)

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300 San Mateo Boulevard NE, Albuquerque, NM 87108

$500,000
Property Type: Residential Income Square Footage: 101,000 Lot Size (sq. ft.): 146,802 Status: Closed
Current Price: $500,000 List Date: 5/01/2023 Last Modified: 9/26/2023

Description

Only $5/sf! - 101,000 sf office building - approved for over 115 new apartment units. Property is up for auction - auction starts 7/24 - closes 7/26 - List price is the starting price for the auction. The property is located in East Nob-Hill and in the path of new development along a major transportation corridor. The upper floors offer unparalleled views in all directions. 80% of the building has been gutted offering wall to wall views and making redevelopment easier. Do not miss out in this amazing redevelopment opportunity and the ability to develop into a high demand market as Albuquerque is the #1 multifamily market in the country for rent growth due to all of the new Netlflix, Amazon, Facebook, and Intel jobs. Contact your buyers broker for additional information on the

More Information MLS# 1033561

Status Change Info

Pending Date: 2023-07-26 Closing Date: 2023-09-26

Contract Information

Listing Price: 500000 Current Price: $500,000 List Price/SqFt: 4.95 Status: Closed Allowance/Concession: No Bank Owned: No

Location

Street #: 300 Street Name: San Mateo St Suffix: Boulevard Post Direction: NE County: Bernalillo City/Town Code: Albuquerque State/Province: NM Zip Code: 87108 Zip +4: 1519 Geo Lat: 35.079912 Geo Lon: -106.585865 Area: 70 - Fairgrounds Zone Atlas: K18

City/County Data

UPC Code: 101805703826232235 Subdivision: replat in works

General Property Description

# of Units: 115 5+ Units: Yes Units for Sale: 115 Property Sub-Type: Other - See Remarks Apx Structured SqFt: 101000 Lot Size Source: Plat Acres: 3.37 Lot SqFt: 146802 Directions: From I-40 and San Mateo - north to property. Stories: 5 Total Stories in Bldg: 10 Total # of Buildings: 1 Year Built: 1979 Age: 41 - 50 Disability Access: No LBP Disclosure: No Builder: Unknown Owner Occupant Unit: No Multiple Lots: One Flood Zone: X

Tax & Legal Info

GRT Code: 02-100 Current Taxes: 4541.8 Tax Exemption: Unknown

Basement

Basement: Yes

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 29 # Baths: 1 Style: Studio S Approx. SqFt: 489 Actual Rent: 1031 Max Rent: 1031 Market Rent: 1031

# of Unit Types (2)

# of Units: 15 # Baths: 1 Style: Studio M Approx. SqFt: 573 Actual Rent: 1087 Max Rent: 1087 Market Rent: 1087

# of Unit Types (3)

# of Units: 29 # Baths: 1 Style: Studio L Approx. SqFt: 646 Actual Rent: 1074 Max Rent: 1074 Market Rent: 1074

# of Unit Types (4)

# of Units: 8 # of Bedrooms: 1 # Baths: 1 Style: 1/1S Approx. SqFt: 537 Actual Rent: 1091 Max Rent: 1091 Market Rent: 1091

# of Unit Types (5)

# of Units: 10 # of Bedrooms: 1 # Baths: 1 Style: 1/1M Approx. SqFt: 6888 Actual Rent: 1193 Max Rent: 1193 Market Rent: 1193

# of Unit Types (6)

# of Units: 14 # of Bedrooms: 1 # Baths: 1 Style: 1/1L Approx. SqFt: 741 Actual Rent: 1322 Max Rent: 1322 Market Rent: 1322

# of Unit Types (7)

# of Units: 4 # of Bedrooms: 2 # Baths: 2 Approx. SqFt: 1204 Actual Rent: 2591 Max Rent: 2591 Market Rent: 2591

# of Unit Types (8)

# of Units: 6 # of Bedrooms: 2 # Baths: 1 Approx. SqFt: 1546 Actual Rent: 2881 Max Rent: 2881 Market Rent: 2881

Unit Summary

Total Units: 115 Average Unit Size: 1210.01 Average Actual Rent: 1253.61 Annualized: 1729992 Total Actual Rent: 144166

Property Features

Construction: Masonry Exterior Material: None Build Description: Resale Amenities: No Landscaping Appliances included: None Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: None Cooling: None Flooring: Concrete Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Parking: Guest Parking Roof: Flat Rental Info: Other - See Remarks Finance Considered: Cash Zoning: MX-L*
Listing Office: NM Apartment Advisors, Inc.
Last Updated: September - 26 - 2023

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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