Bought with The Maez Group
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1 Bed
505 Baths
5,550 SqFt
Key Details
Sold Price -
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,550 sqft
Subdivision Emil Mann Addition
MLS Listing ID 987661
Sold Date -
Bedrooms 1
Construction Status Resale
HOA Y/N No
Year Built 1958
Annual Tax Amount $2,273
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
Timelines:Attend the property tour at noon on Tuesday, April 6th, 2021 (no other showing times are available)Offer deadline at 9am on Thursday, April 8th, 2021.Measures of investment performance at ask price of $486,718 with a current average rent of $444 are a GRM of 8.31, a 7.24% cap rate before reserves, 6.36% cap rate after reserves, 13.60% after tax IRR, $44,718 per unit, and a price per sf of $87.70.Once renovations are complete and if the one bedroom rents are raised to the market of $654, and the value increases to $846,211, the potential exit cap rate is 6.36% after reserves, and a 8.61% cash on cash. On a cost basis (acquisitions of $486,718 + estimated renovations of $204,680=$691,398, ) 7.95
Location
State NM
County Bernalillo
Area 71 - Southeast Heights
Interior
Heating Other, See Remarks
Cooling Other, See Remarks
Flooring See Remarks
Fireplace No
Appliance Refrigerator
Exterior
Exterior Feature Landscaping
Utilities Available Electricity Connected, Natural Gas Connected, Water Connected
Total Parking Spaces 18
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Resale
Others
Tax ID 101905602351321909
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
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