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 $92
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
start price of $695,845, some 25% under a recent appraisal. The owner has recently made significant improvements to this family style apartment compound.Measures of investment performance with an average rent of $842 and a start price of $695,845 include $57,987 per unit , $91.63/sf, 10.34% (ACTUAL) cap rate, and an after tax IRR of 15.4%. If rents are moved closer to the market average and 60% of AMI, at $1,064, the measures of investment performance improve to a 13.77% cap rate.Property has recent appraisal with a today value of $930,000 and a future value of $1,070,000 and is approved for a loan from the Ventana Fund with a term sheet that includes 80% loan to value, 5.35% interest rates. Lender would require approval of the Buyer(s).
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