1100 Palomas Drive Se
Albuquerque,
NM
87108
Property Details
List Price: |
$925,488 |
Beds: |
2 |
Baths: |
-- |
Status: |
Active |
SqFt: |
7720 |
Agency: |
NM Apartment Advisors Inc. |
Description/Comments
Lot Size: |
-- |
Property Type: |
Residential |
Year Built: |
1955 |
Notes: |
The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away |
MlsNumber: |
1033316 |
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Listing Provided By: |
NM Apartment Advisors Inc., original listing |
Name: |
NM Apartment Advisors Inc. |
Phone: |
(505) 440-8633 |
Office Name: |
NM Apartment Advisors, Inc. |
Office Phone: |
(505) 440-8633 |
Agent Name: |
Todd Clarke |
Disclaimer: |
Copyright © 2024 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |