344 GROVE Street SE, Albuquerque, NM 87108
$400,000
Property Type:
Residential Income
Square Footage:
7,000
Lot Size (sq. ft.):
13,504
Status:
Closed
Current Price:
$400,000
List Date:
1/11/2016
Last Modified:
7/10/2018
Description
SELLER FINANCING is available on this FULLY RENTED 12-unit in revitalized part of SE Heights. Close to Gibson Blvd hospitals and VA hospital, easy access to I-40. Solid cash-flow income property, always filled. Recently updated (see pics). We have recent survey and appraisal at $445K, along with an APOD with actual income/expense data. OWNER FINANCING available with a short-term REC with 10-15% down. NOI = $43K; Cap rate 10.75%; GRM 6.94; DCR 1.66; Break-even ratio 68%; Price $33,000/unit. [Please respect tenants' privacy and do not walk the property. Please make offer subject to inspections].
More Information MLS# 838448
Status Change Info
Pending Date: 2016-02-15
Closing Date: 2016-02-29
Contract Information
Listing Price: 400000
Current Price: $400,000
List Price/SqFt: 57.14
Status: Closed
Bank Owned: No
Location
Street #: 344
Street Name: GROVE
St Suffix: Street
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 4061
Geo Lat: 35.070988
Geo Lon: -106.56187
Area: 71 - Southeast Heights
Zone Atlas: L19
City/County Data
UPC Code: 101905620047022501
Subdivision: Emil Mann Add
General Property Description
# of Units: 12
5+ Units: Yes
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 7000
SqFt Source: Broker
Lot Description: double lot
Lot Size Source: On-Line
Acres: 0.31
Lot SqFt: 13503.6
Directions: From Lousianna & Zuni, go east on Zuni to Grove, turn right to property.
Stories: 2
Total # of Buildings: 1
Year Built Exception: Unknown
Disability Access: Unknown
LBP Disclosure: Yes
Builder: unknown
Owner Occupant Unit: No
Multiple Lots: Two
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 3304.46
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 64800
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 12
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 570
Actual Rent: 450
Max Rent: 450
Market Rent: 450
Unit Summary
Total Units: 12
Average Unit Size: 570
Average Actual Rent: 450
Annualized: 64800
Total Actual Rent: 5400
Property Features
Construction: Frame
Exterior Material: Stucco
Amenities: Balconies/Deck
Appliances included: Frestnd Elec Stv/Ovn; Refrigerator
Utilities: All City; Electric
Heating: Electric; Perimeter/Baseboard
Cooling: Evaporative Cooling
Flooring: Carpet; Vinyl
Miscellaneous Info: No Sign
Metering: Individual Electric
Operating Expenses: Call Listing Broker
Owner Pays: Sewer; Trash Removal; Water
Tenant Pays: Electric
Parking: 1.5 Spaces Per Unit
Roof: Flat; Tar Gravel
Rental Info: Call Listing Broker; Yearly Lease
Finance Considered: Cash; Conventional; FHA; Owner Financing
Source: Owner Provided
Zoning: R-2
Listing Office: The Poston Company
Last Updated: July - 10 - 2018
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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