2450 Floral RD NW new Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87104
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,786 sqft
Price per Sqft $167
Subdivision Lot 43, Floral Gardens Subdivision
MLS Listing ID 1087069
Bedrooms 3
Construction Status Resale
HOA Y/N No
Year Built 1946
Annual Tax Amount $4,975
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions Public Records
Property Sub-Type Duplex
Property Description
The main house, Unit A, is a three bedroom, two bathroom beauty with hardwoods floors which faces Floral Road. Unit BC is a two story 3 bedroom, two bathroom unit that faces Rose Avenue.Measures of investment performance at start price of $466,888 and current average rent of $2,225 are a GRM of 8.74, a 8.03% cap rate, $233,444 per unit, $167/sf and an after tax IRR of 24.50%, with the potential to lower an investors effective federal tax rate from 35% to 19%. The greater Albuquerque area continues to under go a significant housing shortage of over 13,000 rental housing units due to the new Netflix, Intel, Facebook (Meta) and Amazon jobs.Located at the intersection of Rose Avenue and Floral Road and in the Floral Gardens subdivision,do not miss out on the opportunity
Location
State NM
County Bernalillo
Area 101 - Near North Valley
Interior
Heating Central, Forced Air, Wall Furnace
Flooring Carpet, Tile, Vinyl, Wood
Fireplace No
Appliance Refrigerator
Exterior
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 101305903017632123
Acceptable Financing Cash,Conventional,FHA,VA Loan
Green/Energy Cert None
Listing Terms Cash,Conventional,FHA,VA Loan