1100 Palomas Drive Se Albuquerque, NM 87108

10 Units
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$963,138 Est. $3,547 / mo.*
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Property Type: Multifamily
Status: Active
Year Built: 1955
Neighborhood: Lots 1, 2 & 3 Block 12, Virginia Addition
Days on Website: 575

Courtesy of NM Apartment Advisors, Inc..

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.

Open House

Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 2
  • Area: 7720
  • Building Area: 7720
  • Construction Materials: Frame,Stucco
  • Levels: One
  • Year Built: 1955
  • Details: CentralAir
  • Features: Landscaping
  • Flooring: Vinyl
  • Heating: Central,ForcedAir
  • Days on Market: 570
  • Listing Price: 963138
  • Status: Active
  • Address: 1100 Palomas Drive SE
  • Area: 71 - Southeast Heights
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: Lots 1, 2 & 3 Block 12, Virginia Addition
  • Directions: From I-40 and Gibson - east to San Mateo, north to Eastern, east to Palomas.
  • Acres: 0.56
  • Size: 0
  • Size Source: PublicRecords
  • Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected

Location

$963,138 - 1100 Palomas Drive Se, Albuquerque, NM 87108
1100 Palomas Drive Se Albuquerque, NM 87108
Address: 1100 Palomas Drive SE

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