304-308 Pennslvania Street NE, Albuquerque, NM 87108
$945,000
Property Type:
Residential Income
Lot Size (sq. ft.):
16,204
Status:
Pending
Current Price:
$945,000
List Date:
3/15/2024
Last Modified:
4/22/2024
Description
Welcome to this exceptional investment opportunity in Albuquerque! We are proud to present a well-maintained 10-unit multifamily property offering affordable housing solutions. This property offers an opportunity for a reliable stream of rental income fulfilling a vital community need through the Section 8 housing program.
Socially conscious investors provide much-needed 2-bed units with 850 SQFT layouts, with its own w/d hookups.
SECT 8 housing provides stability & direct deposit of rent payments. Current rents are 50% below SECT 8 rates with current leases all at month to month.
Viewing the property is available AFTER an accepted offer. Current tenants have rights.
Secure your investment in this lucrative opportunity.
More Information MLS# 1058913
Status Change Info
Pending Date: 2024-04-20
Contract Information
Listing Price: 945000
Current Price: $945,000
Status: Pending
Bank Owned: No
Location
Street #: 304-308
Street Name: Pennslvania
St Suffix: Street
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Geo Lat: 35.078499
Geo Lon: -106.558835
Area: 70 - Fairgrounds
Zone Atlas: K19
City/County Data
UPC Code: Not Available
Subdivision: La Mesa
General Property Description
# of Units: 10
5+ Units: Yes
Units for Sale: 10
Property Sub-Type: 9 or More Units
Lot Size Source: On-Line
Acres: 0.37
Lot SqFt: 16204
Directions: From Central, North on Pennsylvania St NE. Property is on the East side of road.
Stories: 2
Total # of Buildings: 2
Year Built: 1980
Age: Select One
Disability Access: Unknown
LBP Disclosure: No
Builder: unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 5596
Tax Exemption: No
Cooling
Centrally Ducted: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 10
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 850
Actual Rent: 600
Max Rent: 1258
Market Rent: 1100
Unit Summary
Total Units: 10
Average Unit Size: 850
Average Actual Rent: 600
Annualized: 72000
Total Actual Rent: 6000
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: No Landscaping; Outside Lights; Wshr/Dryr HU in Unit
Appliances included: Dryer H/U; Frestnd Elec Stv/Ovn; Refrigerator; Washer H/U
Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Tile
Green Energy Generation: None
Electric Provider: Public Utility
Metering: Individual Electric; Individual Gas
Owner Pays: Water
Tenant Pays: Electric; Gas
Rental Info: Month To Month
Finance Considered: Cash; Conventional
Zoning: R-ML*
Tax Levy - 304 Penn ›Listing Office: Realty One of New Mexico
Last Updated: April - 22 - 2024
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.