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    1112 Palomas & 1116 Drive SE

    Albuquerque, NM 87108
    • $592,000
    • STATUS: Active
    • ON SITE: 139 days
    • MLS #: 967512
    UPDATED: 28 min ago
    $592,000
    • 2
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,514
      SQFT
    • $107
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    This is a core asset with stabilized cash flow and recent renovations, with large two bedroom units and hardwood floors, ceramic tile, with built-in washer/dryer, and covered parking.The seller is offering financing to qualified buyers with a 22.5% down payment, 5.5% interest, 30 year amortization and a 5 year call.Measures of investment performanceThe measures of investment performance at ask price of $592,000 for these 6 units and current average rent of $769 are a GRM of 10.69, a 6.70% cap rate, $98,667 per unit, and $107/sf. If rents are improved to market average of $858, the measure of investment performance improve to a cap rate of 7.90% and a cash on cash of 10.70%.

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    IDX information © 2020 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team. Data last updated: 2020-09-21T07:04:55.807.
    www.sandisells.com/homes/105526242
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    1112 Palomas & 1116 Drive SE Albuquerque, NM 87108

    • Price: $592,000
    • Status: Active
    • Updated: 28 min ago
    • MLS #: 967512
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    5,514
    SQFT
    $107
    $/SQFT
    1958
    Built
    Neighborhood:
    Virginia Place Addition
    County:
    Bernalillo
    Area:
    71 - Southeast Heights
    Property Description
    This is a core asset with stabilized cash flow and recent renovations, with large two bedroom units and hardwood floors, ceramic tile, with built-in washer/dryer, and covered parking.The seller is offering financing to qualified buyers with a 22.5% down payment, 5.5% interest, 30 year amortization and a 5 year call.Measures of investment performanceThe measures of investment performance at ask price of $592,000 for these 6 units and current average rent of $769 are a GRM of 10.69, a 6.70% cap rate, $98,667 per unit, and $107/sf. If rents are improved to market average of $858, the measure of investment performance improve to a cap rate of 7.90% and a cash on cash of 10.70%.
    Exterior Features

    Construction Materials Frame Exterior Features Privacy Wall Fencing Wall Parking Total 6 Stories Total 1

    Interior Features

    Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Electric None Electric On Property YN No Flooring TileWood Heating Forced Air Heating YN Yes Laundry Features Washer Hookup

    Property Features

    Additional Parcels YN Yes Builder Name Unknown Building Area Total 5514 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 52611 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 12824 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 3078 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Description Mh

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2020 Southwest Multiple Listing Service, Inc.


    IDX information © 2020 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team. Data last updated: 2020-09-21T07:04:55.807.
     
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    Sandi Pressley Team
    10400 Academy Rd NE Suite 100
    Alburquerque NM, 87111