1100 Palomas Drive SE Albuquerque, NM 87108
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.
- Property TypeMulti-Family
- NeighborhoodLots 1, 2 & 3 Block 12, Virginia Addition
- CountyBernalillo
- Taxes$5,586
- HOA/Condo/Coop Fees$0
- Days on Site424 Days
- MLS StatusActive
- MLS ID Number1033316
- Home Size Source N/A
- Year Built1955
- Lot Size0.56 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction FrameStucco
- Number of Stories 111
- Acreage 0.56
- Zoning R-MH*
- Property Sub Type Multi Family
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Central Air
- Heating CentralForced Air
- Appliances Refrigerator
- Flooring Vinyl
Exterior Features
- Exterior Landscaping
Community Features
- MLS Area 71 - Southeast Heights