335 Espanola Street Ne Albuquerque, NM 87108

12 Units
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$930,000 Est. $3,425 / mo.*
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Property Type: Multifamily
Status: Active
Year Built: 1946
Neighborhood: La Mesa Addition
Days on Website: 380

Courtesy of NM Apartment Advisors, Inc..

Description

Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increase from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre

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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: 240
  • Listing Price: 930000
  • Status: Active
  • 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

$930,000 - 335 Espanola Street Ne, Albuquerque, NM 87108
335 Espanola Street Ne Albuquerque, NM 87108
Address: 335 Espanola Street NE

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