Property Description
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
Features
: Central, Forced Air, Floor Furnace, Wall Furnace
: Evaporative Cooling
: Refrigerator
$0
Address Map
NM
Bernalillo
Albuquerque
87108
335 Espanola Street NE
0
W107° 26' 8.9''
N35° 4' 46.6''
Additional Information
NM Apartment Advisors, Inc.
Todd D Clarke
$0
7,500 Sqft
: Block, Frame
148
From I-40 and Louisiana south to Copper east to Espanola, south to property.
$0
: Carpet, Wood
Cash,Conventional
$0
1
101905712325632311
1
La Mesa Addition
$4,576
: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
3.0%
20350995
70 - Fairgrounds

Residential Income

335 Espanola Street NE, Albuquerque, New Mexico 87108

1 Bathrooms
7,500 Sqft
Visits : 697 in 530 days
$875,997
Listing ID #1044432
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : 1044432
Price : $875,997
Bathrooms : 1
Square Footage : 7,500 Sqft
Year Built : 1946
Acres : 0.46 Acre
Lot Area : 20,037.60 Sqft
Status : Pending
Property Sub Type : Multi Family
Inquiries
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