423 Princeton Drive SE, Albuquerque, NM 87106
New Listing
$508,245
Property Type:
Residential Income
Square Footage:
2,056
Lot Size (sq. ft.):
6,970
Status:
Active
Current Price:
$508,245
List Date:
5/07/2024
Last Modified:
5/07/2024
Description
423 Princeton SE is located just 4 blocks to UNMs main campus with quick and immediate access to an ART Stop and all that downtown and Nob Hill have to offer. With a 69 Walk Score, 79 Bike Score and a Transit score of 44, and is in the epi-center of the UNM/CNM campuses and close to the University area Smith's Grocery store.
The property will have a unit ready for an owner occupant in the last half of May 2024.
Measures of investment performance at ask price of $508,245 and current average rent of $975 are a GRM of 10.86, a 6.13% cap rate, $127,061 per unit, $247.20/sf. Ten recent closed or pending sales indicate a value closet to $510,269.
The owner is including the ocean container unit, used for storage, located on the west side parking lot of the property, as part of the sale
More Information MLS# 1062189
Contract Information
Listing Price: 508245
Current Price: $508,245
List Price/SqFt: 247.2
Status: Active
Allowance/Concession: No
Bank Owned: No
Location
Street #: 423
Street Name: Princeton
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2984
Geo Lat: 35.073809
Geo Lon: -106.616193
Area: 42 - UNM South
Zone Atlas: K16
City/County Data
UPC Code: 101605717303830902
Subdivision: University Heights
General Property Description
# of Units: 4
5+ Units: No
Units for Sale: 4
Property Sub-Type: Four Plex
Apx Structured SqFt: 2056
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.16
Lot SqFt: 6969.6
Directions: From I-25 and Coal, east to Princeton, south to property.
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 1
Year Built: 1940
Year Built Source: Assessor
Age: Select One
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2398.62
Tax Exemption: Unknown
Cooling
Centrally Ducted: Yes
Basement
Basement: Yes
Income & Expenses
Annual Gross Income: 44460
Operating Expenses: 14184
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# Baths: 0.75
Approx. SqFt: 200
Actual Rent: 600
Max Rent: 600
Market Rent: 750
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 1
# Baths: 0.75
Approx. SqFt: 395
Actual Rent: 850
Max Rent: 850
Market Rent: 1200
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 561
Actual Rent: 1150
Max Rent: 1150
Market Rent: 1300
# of Unit Types (4)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 900
Actual Rent: 1300
Max Rent: 1300
Market Rent: 1300
Unit Summary
Total Units: 4
Average Unit Size: 514
Average Actual Rent: 975
Annualized: 46800
Total Actual Rent: 3900
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Tile; Wood
Green Energy Generation: None
Electric Provider: Public Utility
Miscellaneous Info: No Sign
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Flat
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; FHA; VA
Zoning: R-ML*
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: May - 07 - 2024
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