5203 Trumbull Avenue SE, Albuquerque, NM 87108
$190,000
Property Type:
Residential Income
Square Footage:
1,550
Lot Size (sq. ft.):
8,102
Status:
Closed
Current Price:
$190,000
List Date:
1/15/2024
Last Modified:
2/21/2024
Description
Value-Add Duplex | 2 Bed-1 Bath Units |
Assiignable Private Interest-Only Financing |
A result of below-market lease rates, the asking price of $190,000 has tremendous upside potential. On a rent ($)/SqFt./Month basis, comparable 2 Bedroom-1 Bathroom units, which were leased between January and November 2023, indicate that Trumbull's lease rates are 33.33% below market. By the second to third year of new ownership, one can expect 35% gross rental income growth.
Amenities: Washer and a dryer, private walled courtyards, and single-car garages.
Utilities & Lease Structure: Each 2 Bedroom-1 Bathroom has individual electricity and natural gas meters, which are tenants responsibilities. The owner only pays water, sewer, and refuse utility expenses.
More Information MLS# 1055507
Status Change Info
Pending Date: 2024-01-22
Closing Date: 2024-02-16
Contract Information
Listing Price: 190000
Current Price: $190,000
List Price/SqFt: 122.58
Status: Closed
Bank Owned: No
Location
Street #: 5203
Street Name: Trumbull
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Geo Lat: 35.069335
Geo Lon: -106.582691
Area: 71 - Southeast Heights
Zone Atlas: L18
City/County Data
UPC Code: 1-018-056-108-404-2-20-01
General Property Description
# of Units: 2
5+ Units: No
Property Sub-Type: Duplex
Apx Structured SqFt: 1550
Lot Size Source: Plat
Acres: 0.19
Lot SqFt: 8102
Directions: Northeast Quadrant of Palomas Dr. SE & Trumbull Ave. SE.
Stories: 1
Total # of Buildings: 1
Year Built: 1950
Age: 71 - 80
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2157.4
Tax Exemption: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 2
# of Bedrooms: 2
# Baths: 1
Style: 2 Bedroom-1 Bathroom
Approx. SqFt: 765
Actual Rent: 800
Max Rent: 850
Market Rent: 975
Unit Summary
Total Units: 2
Average Unit Size: 765
Average Actual Rent: 800
Annualized: 19200
Total Actual Rent: 1600
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Enclosed Yard; Laundry Equip. Owned; Tenant Storage; Wshr/Dryr HU in Unit
Appliances included: Dryer; Fan/Hood; Frestnd Gas Stv/Ovn; Washer
Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected
Heating: Floor Furnace
Cooling: Evaporative Cooling
Flooring: Tile; Vinyl
Green Energy Generation: None
Electric Provider: Public Utility
Metering: Individual Electric; Individual Gas
Operating Expenses: Insurance; Property Management; Property Taxes; Repairs/Maintenance; Supplies; Utilities
Owner Pays: Maintenance; Sewer; Trash Removal; Water
Tenant Pays: Electric; Gas; Some Utilities
Parking: 1 Garage; 1 Space Per Unit
Roof: Tar Gravel
Rental Info: Month To Month; Yearly Lease
Finance Considered: Cash; Conventional; FHA; Owner Financing; Other - See Remarks
Zoning: R-T*
Documents
Offering Memorandum ›Listing Office: NAI SunVista Commercial RE
Last Updated: February - 21 - 2024
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