335 Espanola Street Ne Albuquerque, NM 87108

12 Units
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$695,845 Est. $2,562 / mo.*
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Property Type: Multifamily
Status: Pending
Year Built: 1946
Neighborhood: La Mesa Addition
Days on Website: 549

Courtesy of NM Apartment Advisors, Inc..

Description

start price of $695,845, some 25% under a recent appraisal. The owner has recently made significant improvements to this family style apartment compound.Measures of investment performance with an average rent of $842 and a start price of $695,845 include $57,987 per unit , $91.63/sf, 10.34% (ACTUAL) cap rate, and an after tax IRR of 15.4%. If rents are moved closer to the market average and 60% of AMI, at $1,064, the measures of investment performance improve to a 13.77% cap rate.Property has recent appraisal with a today value of $930,000 and a future value of $1,070,000 and is approved for a loan from the Ventana Fund with a term sheet that includes 80% loan to value, 5.35% interest rates. Lender would require approval of the Buyer(s).

Open House

Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 0
  • Area: 7500
  • Building Area: 7500
  • Construction Materials: Block,Frame,Stucco
  • Levels: One
  • Year Built: 1946
  • Details: EvaporativeCooling
  • Flooring: Carpet,Wood
  • Heating: Central,ForcedAir,FloorFurnace,WallFurnace
  • Days on Market: 427
  • Listing Price: 695845
  • Status: Pending
  • Address: 335 Espanola Street NE
  • Area: 70 - Fairgrounds
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: La Mesa Addition
  • Directions: From I-40 and Louisiana south to Copper east to Espanola, south to property.
  • Acres: 0.46
  • Size: 0
  • Size Source: PublicRecords
  • Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected

Location

$695,845 - 335 Espanola Street Ne, Albuquerque, NM 87108
335 Espanola Street Ne Albuquerque, NM 87108
Address: 335 Espanola Street NE

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