401 14th & 416-422 14th Street SW, Albuquerque, NM 87102
$1,742,500
Property Type:
Residential Income
Square Footage:
12,745
Lot Size (sq. ft.):
17,424
Status:
Closed
Current Price:
$1,742,500
List Date:
8/22/2019
Last Modified:
2/05/2020
Description
NM Apartment Advisors is excited to bring to market this amazing 1940svintage downtown Albuquerque apartment portfolio located on the edge of the Country Club Neighborhood and spanning two zip codes. Located at 416-422 14th SW, 401 14th SW (87102) and 1406 Gold SW (87104). This is a core asset with stabilized cash flow and recent renovations, its also a value add deal with rents that are 29.00% below market.
Located across the street from the each other, the 8 and 14 unit property each have private secure court yards. 401 14th SW also has 14 recently renovated garages (12 alley access, 2 street access).
Measures of investment performance at ask price of $1,742,500 and current average rent of $587 are a GRM of 11.24, a 6.15% cap rate, $79,204 per unit, and $149/sf.
More Information MLS# 952272
Status Change Info
Pending Date: 2019-10-14
Closing Date: 2020-02-05
Contract Information
Listing Price: 1742500
Current Price: $1,742,500
List Price/SqFt: 136.72
Status: Closed
Bank Owned: No
Location
Street #: 401
Street Name: 14th & 416-422 14th
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 2884
Geo Lat: 35.084814
Geo Lon: -106.663903
Area: 80 - Downtown Area
Zone Atlas: K13
City/County Data
UPC Code: 101305732744212706
Subdivision: Huning Castle Add
General Property Description
# of Units: 22
5+ Units: Yes
Units for Sale: 22
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 12745
Lot Size Source: On-Line
Acres: 0.4
Lot SqFt: 17424
Directions: From I-40 and Rio Grande, south on Rio Grande to Central, west to 10th street, south to Gold, west to property.
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 8
Year Built: 1940
Age: 71 - 80
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Five
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 7959
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 6
# Baths: 1
Approx. SqFt: 537
Actual Rent: 565
Max Rent: 575
Market Rent: 705
# of Unit Types (2)
# of Units: 16
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 525
Actual Rent: 595
Max Rent: 650
Market Rent: 852
Unit Summary
Total Units: 22
Average Unit Size: 528.27
Average Actual Rent: 586.81
Annualized: 154920
Total Actual Rent: 12910
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected
Heating: Other - See Remarks
Cooling: Evaporative Cooling
Flooring: Wood
Electric Provider: Community
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: MX-L*
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: February - 05 - 2020
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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