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335 Espanola Street NE

Albuquerque, NM 87108
  • $875,997
  • STATUS: Active
  • ON SITE: 162 Days
  • MLS #: 1044432
$875,997
  • 0
    BEDS
  • 0.46
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 7,500
    SQFT
  • $117
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1946
County:

School Ratings & Info

Description

The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.

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IDX information © 2024 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 | Coldwell Banker Legacy. Data last updated: 2024-04-04T00:05:38.57.
www.sandisells.com/homes/145081096
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335 Espanola Street NE Albuquerque, NM 87108

  • Price: $875,997
  • Status: Active
  • On Site: 162 Days
  • MLS #: 1044432
0
Beds
1
Baths
0
½ Baths
0.46
Acres
7,500
SQFT
$117
$/SQFT
1946
Built
Neighborhood:
La Mesa Addition
County:
Bernalillo
Area:
70 - Fairgrounds
Property Description
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
Exterior Features

Construction Materials Block Frame Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring Carpet Wood Heating Central Forced Air Floor Furnace Wall Furnace Heating YN Yes

Property Features

Accessibility Features None Additional Parcels YN Yes Builder Name Unknown Building Area Total 7500 Green Energy Generation None Gross Income 96216 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional New Construction YN No Operating Expense 43315 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 4576.12 Tenant Pays Other See Remarks Utilities Electricity Connected Natural Gas Connected Sewer Connected Water Connected Zoning Description R- T*

Southwest MLS] logo Listing courtesy of NM Apartment Advisors, Inc.: (505) 440-8633. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 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 | Coldwell Banker Legacy. Data last updated: 2024-04-04T00:05:38.57.
 
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Sandi Pressley Team | Coldwell Banker Legacy
10400 Academy Rd NE Suite 100
Alburquerque NM, 87111