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    501 Texas Street NE

    Albuquerque, NM 87108
    • $650,000
    • STATUS: Active
    • ON SITE: 41 days
    • MLS #: 979853
    UPDATED: 183 min ago
    $650,000
    • 1
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,868
      SQFT
    • $111
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1974
    County:

    School Ratings & Info

    Description

    Fantastic price on this 10 plex. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a 7.7% cap rate without the cash demand of updating. All of the units have been remodeled, which includes laminate and tile floors. Appliances are new, bathrooms are updated along with lighting, paint, doors, window coverings. Other updates include new evaporative coolers, many new hot water heaters, laundry room with coin-operated dryers and washers and surveillance, fire escapes for 2nd story units, recent roof, resurfaced parking lot and wrought iron security fence and gate. There is also plenty of room in the back of lot to add storage units for additional income. Most tenants are long-term. Hard to find a multi-plex like this one.

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    IDX information © 2020 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: 2020-12-05T00:04:50.923.
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    501 Texas Street NE Albuquerque, NM 87108

    • Price: $650,000
    • Status: Active
    • Updated: 183 min ago
    • MLS #: 979853
    1
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    5,868
    SQFT
    $111
    $/SQFT
    1974
    Built
    Neighborhood:
    Mesa Verde Addition
    County:
    Bernalillo
    Area:
    70 - Fairgrounds
    Property Description
    Fantastic price on this 10 plex. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a 7.7% cap rate without the cash demand of updating. All of the units have been remodeled, which includes laminate and tile floors. Appliances are new, bathrooms are updated along with lighting, paint, doors, window coverings. Other updates include new evaporative coolers, many new hot water heaters, laundry room with coin-operated dryers and washers and surveillance, fire escapes for 2nd story units, recent roof, resurfaced parking lot and wrought iron security fence and gate. There is also plenty of room in the back of lot to add storage units for additional income. Most tenants are long-term. Hard to find a multi-plex like this one.
    Exterior Features

    Construction Materials Frame Exterior Features BalconyDeck Parking Total 19 Patio And Porch Features BalconyDeck Stories Total 2

    Interior Features

    Appliances Free-Standing Electric RangeRefrigeratorRange HoodSelf Cleaning Oven Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Electric None Electric On Property YN No Flooring LaminateTile Heating GasWall Furnace Heating YN Yes Laundry Features Common Area

    Property Features

    Accessibility Features None Builder Name Unknown Building Area Total 5868 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 82314 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 29357 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 3323 Tenant Pays ElectricityGasOtherSee Remarks Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description R-Ml*

    Listing courtesy of Dave Slade & Associates Llc. © 2020 Southwest Multiple Listing Service, Inc.


    IDX information © 2020 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: 2020-12-05T00:04:50.923.
     
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    Campbell & Campbell Real Estate Services
    5716 Osuna Rd NE
    Albuquerque NM, 87109