1021 Coal Avenue

    Albuquerque, NM 87102
    • $2,120,000
    • STATUS: Active
    • ON SITE: 219 days
    • MLS #: 933862
    UPDATED: 13 min ago
    $2,120,000
    • 0
      BEDS
    • 0.66
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,700
      SQFT
    • $120
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1986
    County:

    School Ratings & Info

    Description

    NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SWGated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,050,000 and current average rent of $543 are a GRM of 10.84, a 5.69% cap rate, $70,690 per unit, $116/sf.If rents are raised to market average of $870, measures of investment performance increase to a GRM of 6.69, and a 10.33% cap rate.Don't miss out - this was part of a larger portfolio that just sold and provides us with two recent comparable sales on the same street - all cash investors range between 5.6% cap rate, $70,690 per unit, $116/sf.If rents are raised

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    IDX information © 2019 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2019-07-18T15:05:25.59.
    www.metrohomesearch.com/homes/89987908

    1021 Coal Avenue Albuquerque, NM 87102

    • Price: $2,120,000
    • Status: Active
    • Updated: 13 min ago
    • MLS #: 933862
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.66
    Acres
    17,700
    SQFT
    $120
    $/SQFT
    1986
    Built
    Neighborhood:
    Raynolds Add
    County:
    Bernalillo
    Area:
    80 - Downtown Area
    Property Description
    NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SWGated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,050,000 and current average rent of $543 are a GRM of 10.84, a 5.69% cap rate, $70,690 per unit, $116/sf.If rents are raised to market average of $870, measures of investment performance increase to a GRM of 6.69, and a 10.33% cap rate.Don't miss out - this was part of a larger portfolio that just sold and provides us with two recent comparable sales on the same street - all cash investors range between 5.6% cap rate, $70,690 per unit, $116/sf.If rents are raised
    Exterior Features

    Construction Frame Exterior Material Stucco Stories 2 Total Buildings 6 Total Stories In Building 2.0

    Interior Features

    Appliances Included Refrigerator Average Unit Size 420.68 Basement No Cooling Evaporative Cooling Flooring CarpetVinyl Heating Gas Unit Type1 Approx Sq Ft 350 Unit Type1 Baths 1.00 Unit Type1 Bedrooms 0 Unit Type2 Approx Sq Ft 400 Unit Type2 Baths 1.00 Unit Type2 Bedrooms 1 Unit Type3 Approx Sq Ft 650 Unit Type3 Baths 1.00 Unit Type3 Bedrooms 2 Unit Type4 Approx Sq Ft 800 Unit Type4 Baths 2.00 Unit Type4 Bedrooms 3

    Property Features

    5 Plus Units Yes Age 21 - 30 Allowance Concession YN No Amenities Laundry Equip. Owned Apx Taxes 14023.58 Average Actual Rent 543.44 Bank Owned No Builder Keith Disability Access Unknown Finance Considered CashConventionalFha Lead Base Paint No Lot Size Source On-Line Multiple Lots Three Owner Occupant Unit Yes Owner Pays Other - See Remarks Property Sub Type 9 Or More Units Rental Info Other - See Remarks Tax Exemption No Tenant Pays Other - See Remarks Total Actual Rent 15760.00 Total Units 29 Trade Exchange Considered No Unit Summary Annualized 189120.00 Unit Type1 Actual Rent 545 Unit Type1 Market Rent 705 Unit Type1 Max Rent 550 Unit Type1 Num Units 1 Unit Type2 Actual Rent 545 Unit Type2 Market Rent 844 Unit Type2 Max Rent 550 Unit Type2 Num Units 26 Unit Type3 Actual Rent 495 Unit Type3 Market Rent 925 Unit Type3 Max Rent 550 Unit Type3 Num Units 1 Unit Type4 Actual Rent 550 Unit Type4 Market Rent 1436 Unit Type4 Max Rent 660 Unit Type4 Num Units 1 Units For Sale 29 Utilities All City Zoning Mx-L*

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2019 Southwest Multiple Listing Service, Inc.
    IDX information © 2019 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2019-07-18T15:05:25.59.
     
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    Albuquerque NM, 87109