1100 Palomas Drive SE 1104, Albuquerque, NM 87108

$925,488
2
BD
1
BA
7,720
SqFt
List Price
$925,488
MLS#
1033316
Property Type
Multifamily
Bedrooms
2
Bathrooms
1
Sqft. of Residence
7,720
Lot Size
24,393
Region
Southeast Heights
Status
ACTIVE

Property Description

The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away

Additional Information

County
Bernalillo
Subdivison
Lots 1, 2 & 3 Block 12, Virginia Addition
Acres
0.56
Exterior Features
Landscaping
Appliances
Refrigerator
Construction
Frame
Cooling
Central Air
Flooring
Vinyl
Heating
Central, Forced Air
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Zoning
R-MH*

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Listing courtesy of NM Apartment Advisors, Inc..

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.