1132 Palomas Drive SE Albuquerque, NM 87108
10 unit, recently renovated community which is located near the new Max-Q mixed-use development.Measures of investment performance at ask price of $949, 530 and current average rent of $808 are a GRM of 9.79, a 6.04% cap rate, $94, 530 per unit, $124.19/sf. If rents are raised to the market of $925, the measures of investment performance improve to a cap rate of 7.14%.10 additional units available on opposite end of the block.The property is located jus a couple of blocks away from the new, under construction headquarters for the Albuquerque Community Safety (ACS), a new city department dedicated to helping the homeless that responds to 911 calls for mental health, substance use, and homelessness issues.
- Property TypeMulti-Family
- NeighborhoodVirginia Place
- CountyBernalillo
- Taxes$5,677
- HOA/Condo/Coop Fees$0
- Days on Site369 Days
- MLS StatusActive
- MLS ID Number1036059
- Home Size Source N/A
- Year Built1958
- Lot Size0.52 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Number of Stories 111
- Acreage 0.52
- Zoning R-MH*
- Property Sub Type Multi Family
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Evaporative Cooling
- Heating Wall Furnace
- Appliances Refrigerator
- Flooring TileVinyl
Community Features
- MLS Area 71 - Southeast Heights