$963,138

1100 Palomas Drive SE, Albuquerque, NM 87108

  • 2 beds |
  • 1 bath |
  • 7,720 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1955
  • Property Lot Size Icon0.56acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $125/sqft
  • Property List Date Icon Listed 2 years ago

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.

Listing Status:
Active
Date Added:
April 26, 2023 at 05:00AM
Listing Office:
NM Apartment Advisors, Inc. : (505) 440-8633
Listing Agent:
Todd D Clarke : (505) 440-8633
MLS ID:
1033316
  • Appliances: Refrigerator
  • Flooring: Vinyl
  • A/C: Central Air
  • Heating: CentralForced Air
  • Eco/Green Feature: None
  • General: Landscaping
  • General: FrameStucco1
  • Originating MLS: SWMLS
  • County: Bernalillo
  • Zoning: Lots 12 & 3 Block 12Virginia Addition101805610818831610
  • Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater ConnectedNone
  • Source: SWMLS

This listing courtesy of Todd D Clarke, NM Apartment Advisors, Inc.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Whittier Elementary School

1110 Quincy St SE, Albuquerque, NM, 87108

Grades PK-5

0.34 miles away

W

Wilson Middle School

1138 Cardenas Dr SE, Albuquerque, NM, 87108

Grades 6-8

0.26 miles away

H

Highland High School

4700 Coal Ave SE, Albuquerque, NM, 87108

Grades 9-12

0.96 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.