8101 Marble Avenue NE, Albuquerque, NM 87110
$1,600,000
Property Type:
Residential Income
Square Footage:
11,169
Lot Size (sq. ft.):
28,314
Status:
Pending
Current Price:
$1,600,000
List Date:
11/02/2023
Last Modified:
3/27/2024
Description
Cap Rate: 6.08%;
Year 2-3 Pro Forma Cap Rate: 8.60%;
GRM: 9.97;
Year 2-3 Pro Forma GRM: 8.39;
Year 2-3 Projected Cash-on-Cash Return: 9.32% to 16.91% *65 LTV 7.15% Fixed Loan & 80 LTV Affordable 4.85% Loan, respectively.
Building Age: 1977.
Property Highlights:
• Marble's Renovated Units Lease 31.12% Higher than those Not Renovated.
• Projected Year 2-3 Gross Income Growth: 18.96%.
• Substantial Capital Improvements 2018-2023.
• Excellent Unit Mix: 50% 1 BR-1 BA, 50% 2 BR-1 BA.
• Situated in a Well-Maintained Office Corridor.
• Projected Year 5 Value Appreciation @ 6.5% Cap Rate: 37.63%.
• Decommissioned Shared-Laundry Facility.
• In-Place Utility Reimbursement (RUBS).
More Information MLS# 1044190
Status Change Info
Pending Date: 2023-11-14
Contract Information
Listing Price: 1600000
Current Price: $1,600,000
List Price/SqFt: 143.25
Status: Pending
Bank Owned: No
Location
Street #: 8101
Street Name: Marble
St Suffix: Avenue
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87110
Geo Lat: 35.089367
Geo Lon: -106.556397
Area: 70 - Fairgrounds
Zone Atlas: J19
City/County Data
UPC Code: Not Available
General Property Description
# of Units: 16
5+ Units: Yes
Units for Sale: 1
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 11169
SqFt Source: Professional
Lot Size Source: Survey
Acres: 0.65
Lot SqFt: 28314
Directions: Head west on Lomas Blvd NE. Turn left onto Pennsylvania St NE. Go for 492 ft. Then, turn right onto Marble Ave NE. Go for 0.2 mi. The ''subject'' property is situated on the northwest corner of Texas Street NE and Marble Ave NE.
Stories: 2
Total # of Buildings: 1
Year Built: 1977
Age: 41 - 50
# Parking Spaces: 24
Disability Access: Yes
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 7749
Tax Exemption: Unknown
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 8
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 784
Actual Rent: 88986
Max Rent: 1144
Market Rent: 1025
# of Unit Types (2)
# of Units: 8
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 627
Actual Rent: 772
Max Rent: 895
Market Rent: 925
Unit Summary
Total Units: 16
Average Unit Size: 705.5
Average Actual Rent: 44879
Annualized: 8616768
Total Actual Rent: 718064
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Fan/Hood; Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Floor Furnace
Cooling: Evaporative Cooling
Flooring: Tile; Vinyl
Green Energy Generation: None
Electric Provider: Public Utility
Electric: Other
Metering: Individual Electric; Master Gas
Owner Pays: Gas; Sewer; Trash Removal; Water
Tenant Pays: Electric; Other - See Remarks
Parking: 1.5 Spaces Per Unit
Roof: TPO (G)
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA; Joint Venture; VA
Zoning: R-MH*
Documents
Offering Memorandum ›Listing Office: NAI SunVista Commercial RE
Last Updated: March - 27 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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