501-505 Mesilla Street Se, Albuquerque
$699,000 - 1 Beds, 1 Baths
MLS® # 1060143
Coldwell Banker Legacy
1100 Palomas Drive Se, Albuquerque
$925,488
2 Beds
1 Baths
7,720 Sqft
.56 Acres
0 Garages
The prior owner remodeled the property with a new TPO roof, 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.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
Essential Information
MLS® #1033316
Price$925,488
Bedrooms2
Bathrooms1.00
Square Footage7,720
Acres0.56
Year Built1955
TypeResidential Income
Sub-TypeMulti Family
StatusActive
Community Information
Address1100 Palomas Drive Se
Area71 - Southeast Heights
CityAlbuquerque
CountyBernalillo
StateNM
Zip Code87108
Subdivision
Lots 1, 2 & 3 Block 12, Virginia Addition
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Interior
InteriorVinyl
AppliancesRefrigerator
HeatingCentral, Forced Air
CoolingCentral Air
# of Stories1
StoriesOne
Exterior
Exterior FeaturesLandscaping
ConstructionFrame
Additional Information
Date ListedApril 26th, 2023
Days on Market389
Listing Details
OfficeNM Apartment Advisors, Inc.
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Listing information last updated on May 19th, 2024 at 9:30am MDT.
