516 Palomas Drive SE Albuquerque, NM 87108
Property being sold using BID Process.Tour date is 9/11 at noon, buyer must be registered. Extreme value add 9 unit property with rents that are 32% below market. Located on 2 lots at 516 & 520 Palomas SE, this 5plex+4plex is being offered as a package using the BID process with one date/time for tours (noon on 9/11/2024) and a fixed deadline for offers (noon on 9/12/ 2024).At the current average rents of $537, and an ask price of $555, 227 the measures of investment performance include a price per unit of $61, 692, price per square foot of $112.92, a GRM of 9.58, an after reserves cap rate of 6.25%, and an after-tax IRR of 16.20%. If rents are raised to the market average of $762, the measures of investment performance improve to a cap rate of 10.66%.
- Property TypeMulti-Family
- NeighborhoodMendelsberg, Baron Burg Heights
- CountyBernalillo
- Taxes$3,795
- HOA/Condo/Coop Fees$0
- Days on Site47 Days
- MLS StatusPending
- MLS ID Number1065491
- Home Size Source N/A
- Year Built1954
- Lot Size0.31 Acres
- Full BathsN/A
- Partial BathsN/A
Sell your house quickly!
Get multiple potential cash offers for your home. Fast and hassle-free!
Learn MoreRecent Activity For 516 Palomas Drive SE Albuquerque, NM 87108
| 6 days ago | |
| a month ago | |
| 2 months ago |
Don't miss a thing!
Get updates on new activity for this listing
General Features
- Construction BlockFrameStucco
- Number of Stories 111
- Acreage 0.31
- 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