7524 2nd Street NW, Albuquerque, NM 87107
$540,000
Property Type:
Residential Income
Square Footage:
5,125
Lot Size (sq. ft.):
33,018
Status:
Closed
Current Price:
$540,000
List Date:
4/01/2020
Last Modified:
5/22/2020
Description
This 12 unit multi-family residence is a great investment opportunity in the north valley! Numerous recent improvements include new roofs on the two main buildings, newly painted exterior, new gas heaters throughout most units, and new bathrooms in multiple units as well. The property is conveniently located 1.5 miles south of Paseo Del Norte (Highway 423 - a major east/west thoroughfare in northern Albuquerque), less than a quarter-mile from a public library, and nearby other stores and daycare facilities.
Measure of investment performance at the average rent of $568 include a GRM of 6.61, a Cap rate of 6.73%, and an internal rate of return 16.30%.
If rents are raised to market $620, the measure of investment property increase to a cap rate of 8.11%, and a cash on cash of 13.04%.
More Information MLS# 962642
Status Change Info
Pending Date: 2020-04-01
Closing Date: 2020-05-22
Contract Information
Listing Price: 540000
Current Price: $540,000
List Price/SqFt: 105.37
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 7524
Street Name: 2nd
St Suffix: Street
Post Direction: NW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 6765
Geo Lat: 35.165591
Geo Lon: -106.628958
Area: 100 - North Valley
Zone Atlas: D15
City/County Data
UPC Code: 101506331520940711
General Property Description
# of Units: 12
5+ Units: Yes
Units for Sale: 12
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 5125
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.76
Lot SqFt: 33018.48
Directions: From I-25 and Osuna - west on Osuna to 2nd Street, north to property
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 3
Year Built: 1946
Age: 81 - 99
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Tax & Legal Info
GRT Code: 02-002
Current Taxes: 3026
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 5
# Baths: 1
Approx. SqFt: 375
Actual Rent: 488
Max Rent: 560
Market Rent: 560
# of Unit Types (2)
# of Units: 6
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 450
Actual Rent: 611
Max Rent: 656
Market Rent: 656
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 550
Actual Rent: 705
Max Rent: 705
Market Rent: 705
Unit Summary
Total Units: 12
Average Unit Size: 427.08
Average Actual Rent: 567.58
Annualized: 81732
Total Actual Rent: 6811
Property Features
Construction: Frame
Exterior Material: Stucco; Wood Siding
Build Description: Resale
Amenities: No Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected
Heating: Other - See Remarks
Cooling: Other
Flooring: Carpet; Tile; Vinyl
Electric Provider: Community
Electric: None
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Zoning: R-2
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: May - 22 - 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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