501 Bullock Avenue, Socorro, NM 87801
$1,300,180
Property Type:
Residential Income
Square Footage:
12,800
Lot Size (sq. ft.):
26,136
Status:
Closed
Current Price:
$1,300,180
List Date:
5/16/2022
Last Modified:
8/09/2022
Description
This 16 unit community is surrounded by housing for NM Tech and school of Mines and is walking distance to the center of campus as well as all of the retail opportunities on Main Street Socorro. Located at 501-533 Bullock street, in Socorro NM, which is an hour drive south of Albuquerque and 2 hours north of Las Cruces. The property has built in, no cost adjacent amenities in the form of City swimming pool, parks, ball fields and tennis course.
Owned by the same family for decades, this 16-unit community was built in the 1970s. The property contains four, four unit buildings that are each two story with pitched roofs, all on one 0.60 acre parcel of land.
Based on the current average rents of $600 per month, the property's measures of investment performance include a 11.29 GRM 6.06%
More Information MLS# 1011423
Status Change Info
Pending Date: 2022-06-16
Closing Date: 2022-08-09
Contract Information
Listing Price: 1300180
Current Price: $1,300,180
List Price/SqFt: 101.58
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 501
Street Name: Bullock
St Suffix: Avenue
County: Socorro
City/Town Code: Socorro
State/Province: NM
Zip Code: 87801
Zip +4: 4747
Geo Lat: 34.068694
Geo Lon: -106.898688
Area: 620 - North Socorro
Zone Atlas: NOZA
City/County Data
UPC Code: 0010650093
Subdivision: JE Hall Subd
General Property Description
# of Units: 16
5+ Units: Yes
Units for Sale: 16
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 12800
Lot Size Source: On-Line
Acres: 0.6
Lot SqFt: 26136
Directions: From I-25 and ABQ south to Socorro - exit first exit continue down California Street south to Bullock, west on Bullock and property (also on corner of El Camino real)
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 4
Year Built: 1979
Age: 41 - 50
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: AH
Tax & Legal Info
GRT Code: 25-125
Current Taxes: 1403.2
Tax Exemption: Unknown
Basement
Basement: No
Income & Expenses
Annual Gross Income: 111744
Operating Expenses: 36984
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 7
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 800
Actual Rent: 600
Max Rent: 600
Market Rent: 850
# of Unit Types (2)
# of Units: 9
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 800
Actual Rent: 600
Max Rent: 600
Market Rent: 850
Unit Summary
Total Units: 16
Average Unit Size: 800
Average Actual Rent: 600
Annualized: 115200
Total Actual Rent: 9600
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: No Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Tile
Electric Provider: Public Utility
Electric: None
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Shingle
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-2
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: August - 09 - 2022
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