311 12th Street SW, Albuquerque, NM 87102
$584,000
Property Type:
Residential Income
Square Footage:
3,477
Lot Size (sq. ft.):
7,405
Status:
Closed
Current Price:
$584,000
List Date:
9/19/2019
Last Modified:
11/07/2019
Description
NM Apartment Advisors is very excited to bring to market this six plex with garages is located in between Downtown Albuquerque and the Country Area at 311 12th SW, this property has a high walk (79), bike (83), and transit (50) scores. The property's is walking distance to the central business district, the Country Club Area, and Old Town Albuquerque. At the ask price of $584,000 and an average rent of $659, the measure of investment performance include a GRM of 12.31, a CAP rate of 5.25%, a price per unit of $97,333, a price per square foot of $167.96 and a before tax IRR of 14.90%. If rents were raised to market of $778, the measure of investment performance improve to a cap rate of 6.47%.
More Information MLS# 954336
Status Change Info
Pending Date: 2019-10-01
Closing Date: 2019-11-07
Contract Information
Listing Price: 584000
Current Price: $584,000
List Price/SqFt: 167.96
Status: Closed
Bank Owned: No
Location
Street #: 311
Street Name: 12th
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 4530
Geo Lat: 35.084073
Geo Lon: -106.661624
Area: 80 - Downtown Area
Zone Atlas: K13
City/County Data
UPC Code: 101305739741412904
Subdivision: Reynolds Add
General Property Description
# of Units: 6
5+ Units: Yes
Units for Sale: 6
Property Sub-Type: 6 Units
Apx Structured SqFt: 3477
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.17
Lot SqFt: 7405.2
Directions: From I-40 and 6th street, south to Silver, west to 12th and the property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 1
Year Built: 1946
Age: 81 - 99
# Parking Spaces: 2
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Multiple Lots: Two
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2653.2
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Style: 311A
Approx. SqFt: 600
Actual Rent: 575
Max Rent: 575
Market Rent: 705
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 311C
Approx. SqFt: 672
Actual Rent: 850
Max Rent: 850
Market Rent: 925
# of Unit Types (3)
# of Units: 2
# of Bedrooms: 1
# Baths: 1
Style: 313 & 315
Approx. SqFt: 543
Actual Rent: 575
Max Rent: 575
Market Rent: 705
# of Unit Types (4)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Style: 317
Approx. SqFt: 494
Actual Rent: 575
Max Rent: 575
Market Rent: 705
# of Unit Types (5)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Style: 319
Approx. SqFt: 625
Actual Rent: 795
Max Rent: 795
Market Rent: 925
Unit Summary
Total Units: 6
Average Unit Size: 579.5
Average Actual Rent: 657.5
Annualized: 47340
Total Actual Rent: 3945
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: All City
Heating: 2+ Units; Gas
Cooling: Evaporative Cooling; Multi Units
Flooring: Tile; Vinyl; Wood
Electric Provider: Public Utility
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Parking: 2 or More Garages
Roof: Flat
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-ML*
Lead Based Paint ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: November - 07 - 2019
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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