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1100 Palomas Drive SE

Albuquerque, NM 87108
  • $963,138
  • STATUS: Active
  • ON SITE: 422 Days
  • MLS #: 1033316
$963,138
  • 2
    BEDS
  • 0.56
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 7,720
    SQFT
  • $125
    $/SQFT
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.

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IDX information © 2024 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: 2024-06-22T00:05:21.257.
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1100 Palomas Drive SE Albuquerque, NM 87108

  • Price: $963,138
  • Status: Active
  • On Site: 422 Days
  • MLS #: 1033316
2
Beds
1
Baths
0
½ Baths
0.56
Acres
7,720
SQFT
$125
$/SQFT
1955
Built
Neighborhood:
Lots 1, 2 & 3 Block 12, Virginia Addition
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.
Exterior Features

Construction Materials Frame Stucco Exterior Features Landscaping Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Cooling Central Air Cooling YN Yes Electric None Flooring Vinyl Heating Central Forced Air Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 7720 Green Energy Generation None Gross Income 91850 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional New Construction YN No Operating Expense 38887 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 5586.84 Tenant Pays Other See Remarks Utilities Electricity Connected Natural Gas Connected Sewer Connected Water Connected Zoning Description R- MH*

Southwest MLS] logo Listing courtesy of NM Apartment Advisors, Inc.: (505) 440-8633. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 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: 2024-06-22T00:05:21.257.
 
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Campbell & Campbell Real Estate Services
5716 Osuna Rd NE
Albuquerque NM, 87109