Homes for sale - 335 Espanola ST NE, Albuquerque, NM 87108

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Tracy Highspencer

tracy@abqliving.realestate +1(505) 934-1646

Listed by NM Apartment Advisors, Inc.

$ 930,000

Est. payment | -/mo

1 Bath

7,500 SqFt

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$ 930,000

Est. payment | -/mo

Save

1 Bath

7,500 SqFt

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

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Tracy Highspencer

REALTOR® | Lic# 41482

tracy@abqliving.realestate

+1(505) 934-1646

811 Silver Ave SW, Albuquerque, NM, 87102, USA

335 Espanola ST NE Albuquerque, NM 87108

Tracy Highspencer

Key Details

Location

Interior

Exterior

Building

Others

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335 Espanola ST NE