1201 S Main Street, Belen, NM 87002
$750,000
Property Type:
Residential Income
Square Footage:
5,400
Lot Size (sq. ft.):
20,038
Status:
Closed
Current Price:
$750,000
List Date:
6/24/2023
Last Modified:
7/18/2023
Description
Excellent investment opportunity in the heart of Belen, NM. Propery provides 9 units, located just off Main St. The property is fully rented with appealing returns. Current CAP rate of 7.2%. Don't hesitate to move on this one. It won't last long.
More Information MLS# 1024314
Status Change Info
Pending Date: 2023-06-23
Closing Date: 2023-07-17
Contract Information
Listing Price: 750000
Current Price: $750,000
List Price/SqFt: 138.89
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 1201
Direction: S
Street Name: Main
St Suffix: Street
County: Valencia
City/Town Code: Belen
State/Province: NM
Zip Code: 87002
Geo Lat: 34.645403
Geo Lon: -106.780881
Area: 741 - Belen
Zone Atlas: RRR6
City/County Data
UPC Code: 1006027507240000000
General Property Description
# of Units: 9
5+ Units: Yes
Units for Sale: 9
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 5400
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.46
Lot SqFt: 20038
Directions: From I-25 South & I-25BL> Head North on I-25BL(.9 miles)> Property located on the left.
Stories: 1
Total # of Buildings: 3
Year Built: 2008
Age: 10 - 15
Disability Access: Unknown
LBP Disclosure: No
Builder: unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 14-129
Current Taxes: 4816.72
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 74100
Operating Expenses: 19000
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 8
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 720
Actual Rent: 700
Max Rent: 800
Market Rent: 800
# of Unit Types (2)
# of Units: 1
# Baths: 1
Style: studio
Approx. SqFt: 300
Actual Rent: 250
Max Rent: 400
Market Rent: 400
Unit Summary
Total Units: 9
Average Unit Size: 673.33
Average Actual Rent: 650
Annualized: 70200
Total Actual Rent: 5850
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Ceiling Fan(s); No Landscaping; Satelite Dish
Appliances included: Frestnd Gas Stv/Ovn; Range Hood
Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Central Air; ENERGY STAR Qualified Equipment
Flooring: Laminate; Tile
Electric Provider: Public Utility
Electric: None
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Insurance; Property Management; Property Taxes; Repairs/Maintenance
Owner Pays: Trash Removal; Water
Tenant Pays: Electric; Gas
Parking: Assigned Parking
Roof: Shingle
Rental Info: Month To Month
Finance Considered: Cash; Conventional; Owner Financing
Zoning: C-1
Listing Office: Keller Williams Realty
Last Updated: July - 18 - 2023
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