335 Espanola Street Ne
Albuquerque,
NM
87108
Property Details
List Price: |
$875,997 |
Beds: |
-- |
Baths: |
-- |
Status: |
Active |
SqFt: |
7500 |
Agency: |
NM Apartment Advisors Inc. |
Description/Comments
Lot Size: |
-- |
Property Type: |
Residential |
Year Built: |
1946 |
Notes: |
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. |
MlsNumber: |
1044432 |
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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. |