3444 Eastern Avenue SE, Albuquerque, NM 87106
$570,370
Property Type:
Residential Income
Square Footage:
2,300
Lot Size (sq. ft.):
8,276
Status:
Active
Current Price:
$570,370
List Date:
2/19/2024
Last Modified:
2/19/2024
Description
All 4 apartments have been modernized with care and an eye for resident comfort, convenience and security with secured outdoor storage and private yard spaces with brand new xeric landscaping and plenty of room for private outdoor living space. Other updates include thermal windows, new quality luxury vinyl plank flooring throughout, stacked washer / dryers in each unit, with updated appliances and fixtures throughout.
Measures of investment performance at ask price of $570,370 and current average rent of $1,038 are a GRM of 11.45, a 6.41% cap rate, $142,592 per unit, $248/sf and an after tax IRR of 12.70%.
If rents are raised to market of $1,175 the measures of investment performance improve to a cap rate of 7.32%.
Apartments are separately metered and residents pay G&E.
More Information MLS# 1057423
Contract Information
Listing Price: 570370
Current Price: $570,370
List Price/SqFt: 247.99
Status: Active
Allowance/Concession: No
Bank Owned: No
Location
Street #: 3444
Street Name: Eastern
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2421
Geo Lat: 35.059909
Geo Lon: -106.606683
Area: 42 - UNM South
Zone Atlas: L16
City/County Data
UPC Code: 101605645605740411
Subdivision: Ronys Knob Heights
General Property Description
# of Units: 4
5+ Units: No
Units for Sale: 4
Property Sub-Type: Four Plex
Apx Structured SqFt: 2300
Lot Size Source: On-Line
Acres: 0.19
Lot SqFt: 8276.4
Directions: From I-40 and Gibson, east to Carlisle, morth to Eastern, South to property.
Stories: 1
Total # of Buildings: 1
Year Built: 1972
Year Built Source: Public Records
Age: 51 - 60
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2095.52
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 47310
Operating Expenses: 11662
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 2
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 625
Actual Rent: 1130
Max Rent: 1130
Market Rent: 1250
# of Unit Types (2)
# of Units: 2
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 525
Actual Rent: 945
Max Rent: 945
Market Rent: 1100
Unit Summary
Total Units: 4
Average Unit Size: 575
Average Actual Rent: 1037.5
Annualized: 49800
Total Actual Rent: 4150
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Wall Unit
Cooling: Evaporative Cooling
Flooring: Vinyl
Green Energy Generation: None
Electric Provider: Public Utility
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Parking: Paved Lot
Roof: Positive Pitched; Shingle
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA; VA
Source: Broker Provided; Owner Provided
Zoning: R-MH*
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: February - 19 - 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.