652 Vancouver Road SE, Rio Rancho, NM 87124
$612,500
Property Type:
Residential Income
Square Footage:
2,700
Lot Size (sq. ft.):
14,810
Status:
Active
Current Price:
$612,500
List Date:
10/16/2023
Last Modified:
3/29/2024
Description
652 Vancouver SE sits at the end of a very quiet cul-de-sac and backs up to Rio Rancho open space. These nicely apportioned units were recently fully renovated with quality contemporary fixtures and finishes. Apartments include washer/dryer hookups and offer residents private yard spaces with unobstructed high desert mesa views from their private patios.
The property contains two bedroom, one bath apartment homes, with wonderful single story floorplans and private yard areas as well as separate west facing storage rooms.
Measures of investment performance at ask price of $595,000 with a current average rent of $1,163 are a GRM of 10.66, a 5.90% cap rate before reserves, 5.75% cap rate after reserves, 11.80% after tax IRR, $148,750 per unit, and a price per sf of $220.37.
More Information MLS# 1043244
Contract Information
Listing Price: 612500
Current Price: $612,500
List Price/SqFt: 226.85
Status: Active
Allowance/Concession: No
Bank Owned: No
Location
Street #: 652
Street Name: Vancouver
St Suffix: Road
Post Direction: SE
County: Sandoval
City/Town Code: Rio Rancho
State/Province: NM
Zip Code: 87124
Zip +4: 3867
Geo Lat: 35.2485
Geo Lon: -106.733557
Area: 150 - Rio Rancho MiD
Zone Atlas: 38
City/County Data
UPC Code: 1009069319071
Subdivision: LEGAL: SUBD: RIO RANCHO ESTATES BLOCK: AA LOT: 7B UNIT: 11
General Property Description
# of Units: 4
5+ Units: No
Units for Sale: 4
Property Sub-Type: Four Plex
Apx Structured SqFt: 2700
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.34
Lot SqFt: 14810.4
Directions: From Unser and Southern, West on Southern to Rainbow, north to Tulip and east to property (faces Tulip, address is on Vancouver)
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 1
Year Built: 1997
Age: 21 - 30
# Parking Spaces: 6
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: Yes
Multiple Lots: One
Flood Zone: X
Tax & Legal Info
GRT Code: 29-524
Current Taxes: 2375.12
Tax Exemption: No
Cooling
Centrally Ducted: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 53910
Operating Expenses: 19722
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 4
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 675
Actual Rent: 1163
Max Rent: 1245
Market Rent: 1295
Unit Summary
Total Units: 4
Average Unit Size: 675
Average Actual Rent: 1163
Annualized: 55824
Total Actual Rent: 4652
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: No Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Vinyl
Green Energy Generation: None
Electric Provider: Public Utility
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Parking: Unpaved
Roof: Flat
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA; VA
Zoning: R-2
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: March - 29 - 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.