401 12th & 423 Street SW, Albuquerque, NM 87102
$883,791
Property Type:
Residential Income
Square Footage:
7,449
Lot Size (sq. ft.):
14,000
Status:
Closed
Current Price:
$883,791
List Date:
8/29/2019
Last Modified:
12/18/2019
Description
NM Apartment Advisors is excited to bring to market this amazing 1930s vintage downtown Albuquerque apartment portfolio located on the edge of the Country Club Neighborhood. Located at 401 & 423 12th SW, 87102, this is a core asset with stabilized cash flow and recent renovations, it is also a value-add deal with rents that are 18.00% below market.
If rents are raised to market average of $849, measures of investment performance increase to a GRM of 8.68, and a 6.62% cap rate. Email listing broker if you need the latest Downtown rent survey.
Don't miss out โ properties with high walk, bike and transit scores are going quickly!
More Information MLS# 952878
Status Change Info
Pending Date: 2019-10-14
Closing Date: 2019-12-18
Contract Information
Listing Price: 883791
Current Price: $883,791
List Price/SqFt: 118.65
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 401
Street Name: 12th & 423
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 2813
Geo Lat: 35.083531
Geo Lon: -106.661717
Area: 80 - Downtown Area
Zone Atlas: K13
City/County Data
UPC Code: 101305739339412207
Subdivision: Raynolds Addidion
General Property Description
# of Units: 10
5+ Units: Yes
Units for Sale: 10
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 7449
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.32
Lot SqFt: 14000
Directions: From I-40 and 12th street, south to Central, east to 10th Street, south on 10th, west on Park to 12th, south to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 2
Year Built: 1936
Age: 81 - 99
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Multiple Lots: Three
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2850.18
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 82317
Operating Expenses: 31499
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 7
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 500
Actual Rent: 661
Max Rent: 660
Market Rent: 852
# of Unit Types (2)
# of Units: 3
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 650
Actual Rent: 758
Max Rent: 770
Market Rent: 841
Unit Summary
Total Units: 10
Average Unit Size: 545
Average Actual Rent: 690.1
Annualized: 82812
Total Actual Rent: 6901
Property Features
Construction: Block; Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Tenant Storage
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected
Heating: Other - See Remarks
Cooling: Other
Flooring: Tile; Wood
Electric Provider: Community
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
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Zoning: R-ML*
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: December - 18 - 2019
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.