503 7th Street SW, Albuquerque, NM 87102
$899,000
Property Type:
Residential Income
Square Footage:
3,729
Lot Size (sq. ft.):
6,316
Status:
Pending
Current Price:
$899,000
List Date:
11/06/2023
Last Modified:
4/25/2024
Description
Don't miss out on this turn-key investment opportunity to own a residential income property convenient located in the heart of downtown, within a short distance of Tingley Beach, BioPark, Old Town and Nob Hill with a wide array of great restaurant options, shopping, groceries and entertainment. This property features five charming bright units (2-1 Bedrooms) that have been renovated throughout the years with premium flooring, neutral color palette throughout, providing a comfortable and inviting living space for tenants. Beautiful low maintenance landscaping complimented by well-maintain common area gardens, creating a lush and private community atmosphere. Plenty of street parking and a large back & side yards for tenants to use. This property also offers a free common laundry.
More Information MLS# 1044359
Status Change Info
Pending Date: 2024-04-24
Contract Information
Listing Price: 899000
Current Price: $899,000
List Price/SqFt: 241.08
Status: Pending
Bank Owned: No
Location
Street #: 503
Street Name: 7th
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 3809
Geo Lat: 35.080819
Geo Lon: -106.656204
Area: 80 - Downtown Area
Zone Atlas: K14
City/County Data
UPC Code: 101405703229520109
General Property Description
# of Units: 5
5+ Units: Yes
Property Sub-Type: 5 Units
Apx Structured SqFt: 3729
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6316
Directions: Head west on Lead Ave from I-25. Turn left on 8th street and an immediate next left on Coal Ave. The property is on the right.
Stories: 1
Total # of Buildings: 2
Year Built: 1926
Age: 81 - 99
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 8816.04
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 100620
Operating Expenses: 31178
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 3
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 600
Actual Rent: 2085
Max Rent: 2085
Market Rent: 2085
# of Unit Types (2)
# of Units: 2
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 450
Actual Rent: 1700
Max Rent: 1700
Market Rent: 1700
Unit Summary
Total Units: 5
Average Unit Size: 540
Average Actual Rent: 1931
Annualized: 115860
Total Actual Rent: 9655
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Enclosed Yard; Laundry Community; Some Landscaping
Appliances included: Refrigerator
Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected
Heating: Central Forced Air; Ductless; Wall Unit
Cooling: Central Air; Ductless
Flooring: Laminate
Green Energy Generation: None
Electric Provider: Private
Metering: Individual Electric; Individual Gas; Laundry Separate
Owner Pays: Some Utilities
Tenant Pays: Some Utilities
Roof: Flat; TPO (G)
Rental Info: Call Listing Broker
Finance Considered: Cash; Conventional
Zoning: R-MH*
Documents
Property Flyer ›Listing Office: EXP Commercial, LLC
Last Updated: April - 25 - 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.