335 Espanola Street NE Albuquerque, NM 87108
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875, 997 include $73, 000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1, 184, 884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
- Property TypeMulti-Family
- NeighborhoodLa Mesa Addition
- CountyBernalillo
- Taxes$4,576
- HOA/Condo/Coop Fees$0
- Days on Site236 Days
- MLS StatusPending
- MLS ID Number1044432
- Home Size Source N/A
- Year Built1946
- Lot Size0.46 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Number of Stories 111
- Acreage 0.46
- Zoning R-T*
- Property Sub Type Multi Family
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Evaporative Cooling
- Heating CentralForced AirFloor FurnaceWall Furnace
- Appliances Refrigerator
- Flooring CarpetWood
Community Features
- MLS Area 70 - Fairgrounds