1100 Palomas DR SE Active Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87108
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,720 sqft
Price per Sqft $124
Subdivision Lots 1, 2 & 3 Block 12, Virginia Addition
MLS Listing ID 1033316
Bedrooms 2
Construction Status Resale
HOA Y/N No
Year Built 1955
Annual Tax Amount $5,586
Lot Size 0.560 Acres
Acres 0.56
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with 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.
Location
State NM
County Bernalillo
Area 71 - Southeast Heights
Interior
Heating Central, Forced Air
Cooling Central Air
Flooring Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Exterior Feature Landscaping
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101805610818831610
Acceptable Financing Cash,Conventional
Green/Energy Cert None
Listing Terms Cash,Conventional