3410 Thaxton (& 14,18,22,30,34,38) Avenue SE, Albuquerque, NM 87106
$2,445,000
Property Type:
Residential Income
Square Footage:
21,420
Lot Size (sq. ft.):
6,098
Status:
Closed
Current Price:
$2,445,000
List Date:
3/31/2023
Last Modified:
9/29/2023
Description
8 unit portfolio of seven fourplexes, owned by the same family for over 25 years. Located at 3410, 3414, 3418 , 3422, 3430, 3430 and 3438 Thaxton SE, this community is served by all of the new employment and restaurants along the Gibson/Airport corridor.
This value-add asset is ripe for an investor looking to reposition an asset. Full inspection reports are now available and the new price reflects the work that could be done by the next owner.
As the ask price of $2,445,000 and with an average rent of $723, the measures of investment performance include $87,123 per unit, $114.15 per square foot, a before reserves cap rates of 6.10%, and an after tax IRR of 13.60%.
If rents are moved to market of $1,050, measure of investment performance improve to a cap rate of 10.02%.
More Information MLS# 1013743
Status Change Info
Pending Date: 2023-06-29
Closing Date: 2023-09-29
Contract Information
Listing Price: 2445000
Current Price: $2,445,000
List Price/SqFt: 114.15
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 3410
Street Name: Thaxton (& 14,18,22,30,34,38)
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2494
Geo Lat: 35.062619
Geo Lon: -106.607821
Area: 42 - UNM South
Zone Atlas: L16
City/County Data
UPC Code: 101605642115841016
Subdivision: Knob Heights
General Property Description
# of Units: 28
5+ Units: Yes
Units for Sale: 28
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 21420
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6098.4
Directions: From I-25 and Gibson, east on Gibson, North to Carlisle, north to Thaxton, west to property.
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 7
Year Built: 1963
Age: 51 - 60
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Five
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 1885.84
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 233417
Operating Expenses: 82577
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 28
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 765
Actual Rent: 723
Max Rent: 800
Market Rent: 1050
Unit Summary
Total Units: 28
Average Unit Size: 765
Average Actual Rent: 723
Annualized: 242928
Total Actual Rent: 20244
Property Features
Construction: Frame
Exterior Material: Brick Veneer
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Washer H/U
Utilities: Electricity Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Vinyl
Electric Provider: Public Utility
Electric: None
Miscellaneous Info: No Sign
Metering: Other - See Remarks
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Flat; Shake
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Zoning: R-MH*
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: September - 29 - 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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