4322 4th Street NW, Albuquerque, NM 87107
$2,550,000
Property Type:
Residential Income
Square Footage:
22,400
Lot Size (sq. ft.):
27,443
Status:
Closed
Current Price:
$2,550,000
List Date:
9/08/2015
Last Modified:
8/16/2017
Description
This 24 unit property is a best of class mixed use property, developed and built by local developer, Michael Dreskin in 2014-2015.
This gated community was built with the millennial generation in mind offering hip, cool and colorful interiors, large balcony areas, spacious common areas, elevator, and so much more. The construction is of a caliber to support a future condo-conversion.
The average apartment rent is $879 per unit or $0.94/sf, with an ask price of $2.55M this offers an astute investor a 6.00% Cap rate, and a 7.56% Cap rate, 13.06% cash on cash, based on proforma income.
Don' t miss out in this rare opportunity to own a new construction community with after tax internal rate of return of 14.9%
More Information MLS# 849508
Status Change Info
Pending Date: 2016-01-12
Closing Date: 2016-03-14
Contract Information
Listing Price: 2550000
Current Price: $2,550,000
List Price/SqFt: 113.84
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 4322
Street Name: 4th
St Suffix: Street
Post Direction: NW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 3601
Geo Lat: 35.127224
Geo Lon: -106.643053
Area: 101 - Near North Valley
Zone Atlas: G14
City/County Data
UPC Code: 101406041837913445
Subdivision: Dels Hide-A-Way Park A & B
General Property Description
# of Units: 24
5+ Units: Yes
Units for Sale: 24
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 22400
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.63
Lot SqFt: 27442.8
Directions: From I-25 and Candelaria - west to Fourth street, north to property on east.
Stories: 3
Total Stories in Bldg: 3
Total # of Buildings: 1
Year Built: 2014
Year Built Exception: New Construction
Age: 1 - 3
Disability Access: Yes
LBP Disclosure: No
Builder: Dreskin
Owner Occupant Unit: No
Multiple Lots: One
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 1283.82
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 242940
Operating Expenses: 89900
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 4
# Baths: 1
Style: Commercial
Approx. SqFt: 1000
Actual Rent: 1000
Max Rent: 1000
Market Rent: 1000
# of Unit Types (2)
# of Units: 4
# of Bedrooms: 2
# Baths: 1
Style: Small
Approx. SqFt: 800
Actual Rent: 806
Max Rent: 825
Market Rent: 900
# of Unit Types (3)
# of Units: 12
# of Bedrooms: 2
# Baths: 2
Style: Medium
Approx. SqFt: 900
Actual Rent: 848
Max Rent: 900
Market Rent: 1050
# of Unit Types (4)
# of Units: 4
# of Bedrooms: 2
# Baths: 2
Style: Large
Approx. SqFt: 1100
Actual Rent: 925
Max Rent: 975
Market Rent: 1050
Unit Summary
Total Units: 24
Average Unit Size: 933.33
Average Actual Rent: 879.16
Annualized: 253200
Total Actual Rent: 21100
Property Features
Construction: See Plans
Exterior Material: Stucco
Amenities: Balconies/Deck
Appliances included: Dishwasher; Refrigerator; Self Clean Oven
Utilities: All City
Heating: Central Forced Air
Cooling: Refrigerated
Flooring: Vinyl
Metering: Individual Electric; Individual Gas
Operating Expenses: All
Owner Pays: Other - See Remarks
Tenant Pays: Electric
Parking: 1 Garage; Covered
Rental Info: Current Lse Agreemnt
Finance Considered: Cash; Conventional
Zoning: C-2; SU-2
Documents
APOD-Flyer ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: August - 16 - 2017
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