1515 8 th Street, Albuquerque, NM 87102
$732,707
Property Type:
Residential Income
Square Footage:
8,640
Lot Size (sq. ft.):
4,792
Status:
Closed
Current Price:
$732,707
List Date:
12/05/2018
Last Modified:
8/01/2019
Description
NM Apartment Advisors is very excited to bring to market twelve-plex at 1515 8th NW, located in Downtown Albuquerque, this property has a high walk (65), bike (76), and transit (57) scores.
The property's is walking distance Albuquerque's museum corridor, Tiguex Park and Old town and biking distance to the central business district.
At the ask price of $732,707 and an average rent of $593, the measure of investment performance include a GRM of 8.59, a CAP rate of 6.25%, a price per unit of $61,059 a price per square foot of $84.80 a before tax IRR of 23.40% and an after tax IRR of 19.50%.
If rents were raised to market of $643, the measure of investment performance improve to a cap rate of 7.40%.
These townhouse style units are all two bedrooms and one bathroom that includes w
More Information MLS# 933520
Status Change Info
Pending Date: 2019-05-16
Closing Date: 2019-08-01
Contract Information
Listing Price: 732707
Current Price: $732,707
List Price/SqFt: 84.8
Status: Closed
Bank Owned: No
Location
Street #: 1515
Street Name: 8 th
St Suffix: Street
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 1255
Geo Lat: 35.099681
Geo Lon: -106.654961
Area: 80 - Downtown Area
Zone Atlas: J14
City/County Data
UPC Code: 101405806645122407
Subdivision: Albright Moore Add
General Property Description
# of Units: 12
5+ Units: Yes
Units for Sale: 12
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 8640
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.11
Lot SqFt: 4791.6
Directions: From I-40 and 12th Street south to Bellamah, east to 8th and the property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 1
Year Built: 1920
Age: 41 - 50
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 1494.52
Tax Exemption: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 12
# of Bedrooms: 2
# Baths: 1
Style: Townhouse
Approx. SqFt: 720
Actual Rent: 548
Max Rent: 625
Market Rent: 643
Unit Summary
Total Units: 12
Average Unit Size: 720
Average Actual Rent: 548
Annualized: 78912
Total Actual Rent: 6576
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Wshr/Dryr HU in Unit
Appliances included: Refrigerator
Utilities: All City
Heating: Gas
Cooling: Evaporative Cooling
Flooring: Carpet; Tile; Wood
Electric Provider: Community; None
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Rental Info: Other - See Remarks
Finance Considered: Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-1A*
Flyer, APOD and property info ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: August - 01 - 2019
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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