NM > Albuquerque
Albuquerque, NM 87108,317 Adams ST SE
Albuquerque, NM 87108,317 Adams ST SE
Albuquerque, NM 87108,317 Adams ST SE
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Listed by NM Apartment Advisors, Inc.
$2,661,159
Est. payment /mo
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1 BA
13,050 SqFt
Active

317 Adams ST SE Albuquerque, NM 87108

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Anita Mora

Anita Mora

+1(505) 400-8105

UPDATED:

12/12/2024 12:44 PM

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

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Anita Mora

Broker | License ID: 46134

+1(505) 400-8105

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317 Adams ST SE