317 Adams ST SE 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 13,050 sqft
Price per Sqft $203
MLS Listing ID 1074795
Construction Status Resale
HOA Y/N No
Year Built 1985
Annual Tax Amount $6,947
Lot Size 0.540 Acres
Acres 0.54
Lot Dimensions Public Records
Property Description
This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes for the balance of the units.CORE AssetMeasures of investment performance at the ask price of $2,661,159 and current average rents of $792 a month are a GRM of 10.77, a 6.62% cap rate, $102,352 per unit, $204/sf, and an after tax internal rate of return is 13.20%And Value AddThe property is currently 24% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,023, the metrics of investment performance improve to a cap rate of 8.03% and a cash on cash of 8.98%.
Location
State NM
County Bernalillo
Area 42 - Unm South
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Exterior Feature Landscaping
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Accessibility None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Resale
Others
Tax ID 101705729107740805
Acceptable Financing Cash,Conventional
Green/Energy Cert None
Listing Terms Cash,Conventional