425 Columbia Drive SE, Albuquerque, NM 87106
$252,000
Property Type:
Residential Income
Square Footage:
1,950
Lot Size (sq. ft.):
7,100
Status:
Closed
Current Price:
$252,000
List Date:
6/08/2020
Last Modified:
7/30/2020
Description
NOTE - 6/11/2020 UPDATE - property is under best and final round that closes on 6/15/2020
Attend the zoom meeting at noon on Tuesday, June 9th, and learn about the property from the property manager, market overview from the listing brokers, and financing update.
Tour the property online
Review the inspections
Review the financials
Learn the latest from capital markets
Make an offer โ offer deadline is noon Thursday, June 11th, 2020
Starting Ask Price is $252,000, with an average rent of $787, measures of investment performance include a GRM of 8.90, a before reserves cap rate of 6.40% and an after tax Internal Rate of Return (IRR) of 15.00%. If rents are raised to the market average of $865, measure of investment performance improve to a cap rate of 6.90% and a cash on cash of
More Information MLS# 969909
Status Change Info
Pending Date: 2020-06-15
Closing Date: 2020-07-29
Contract Information
Listing Price: 252000
Current Price: $252,000
List Price/SqFt: 129.23
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 425
Street Name: Columbia
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 3617
Geo Lat: 35.073801
Geo Lon: -106.61745
Area: 42 - UNM South
Zone Atlas: K16
City/County Data
UPC Code: 101605713603830802
Subdivision: University Heights Addition
General Property Description
# of Units: 3
5+ Units: No
Units for Sale: 3
Property Sub-Type: Triplex
Apx Structured SqFt: 1950
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.16
Lot SqFt: 7100.28
Directions: From I-25 and Central, east on Central to Columbia, south on Columbia to property - located on the NEC of Columbia and Garfield
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 2
Year Built: 1930
Year Built Exception: Unknown
Age: 81 - 99
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Multiple Lots: One
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 3370
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 750
Actual Rent: 865
Max Rent: 865
Market Rent: 875
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 750
Actual Rent: 810
Max Rent: 810
Market Rent: 875
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 450
Actual Rent: 685
Max Rent: 685
Market Rent: 875
Unit Summary
Total Units: 3
Average Unit Size: 650
Average Actual Rent: 786.66
Annualized: 28320
Total Actual Rent: 2360
Property Features
Construction: Block; Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Vinyl
Electric Provider: Public Utility
Electric: None
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-ML*
Documents
Lead Based Paint ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: July - 30 - 2020
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.