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321 Arizona Street SE

Albuquerque, NM 87108
  • $425,000
  • STATUS: Active
  • ON SITE: 3 Days
  • MLS #: 1002733
New On Site 3 Days Ago
UPDATED: 36 min ago
$425,000
  • 1
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,287
    SQFT
  • $99
    $/SQFT
Type:
Multi-Family
Built:
1949
County:

School Ratings & Info

Description

Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.If rents were to be raised to market of $729, the measures of investment performance improve to a GRM of 8.10, and a cap rate of 7.76% (before reserves).Do not wait - apartment investments are undergoing phenomenal appreciation and are on blazing path of rent growth due to the new Amazon, Netflix, Facebook and Intel employment announcements.

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IDX information © 2021 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Berkshire Hathaway HomeServices. Data last updated: 2021-10-15T23:04:51.58.
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321 Arizona Street SE Albuquerque, NM 87108

  • Price: $425,000
  • Status: Active
  • Updated: 36 min ago
  • MLS #: 1002733
1
Beds
0
Baths
0
½ Baths
0.16
Acres
4,287
SQFT
$99
$/SQFT
1949
Built
Neighborhood:
Lots 9 & 10, Block 9, Fairground Addition
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.If rents were to be raised to market of $729, the measures of investment performance improve to a GRM of 8.10, and a cap rate of 7.76% (before reserves).Do not wait - apartment investments are undergoing phenomenal appreciation and are on blazing path of rent growth due to the new Amazon, Netflix, Facebook and Intel employment announcements.
Exterior Features

Construction Materials Frame Exterior Features Landscaping Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring See Remarks Heating CentralForced Air Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 4287 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 44144 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 17118 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 3147 Tenant Pays OtherSee Remarks Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description Nr-C*

Listing courtesy of Nm Apartment Advisors, Inc.. © 2021 Southwest Multiple Listing Service, Inc.


IDX information © 2021 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Berkshire Hathaway HomeServices. Data last updated: 2021-10-15T23:04:51.58.
 
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