335 Espanola ST NE Active Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87108
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $124
Subdivision La Mesa Addition
MLS Listing ID 1044432
Construction Status Resale
HOA Y/N No
Year Built 1946
Annual Tax Amount $4,576
Lot Size 0.460 Acres
Acres 0.46
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increase from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre
Location
State NM
County Bernalillo
Area 70 - Fairgrounds
Interior
Heating Central, Forced Air, Floor Furnace, Wall Furnace
Cooling Evaporative Cooling
Flooring Carpet, Wood
Fireplace No
Appliance Refrigerator
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Accessibility None
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101905712325632311
Acceptable Financing Cash,Conventional
Green/Energy Cert None
Listing Terms Cash,Conventional