3410-3422 Vail Avenue SE Albuquerque, NM 87106
PRICE REDUCED! At a $70, 000 discount, the revised in-place (Aug-24) cap rate is 6.23%. The Skylight Apartments satisfy common multifamily investment criteria: Well-below-market lease rates (45.08%), 100% 2 Bedroom-1 Bathroom units, fully renovated interiors, individually metered gas & electricity, minimal deferred maintenance, and an improving submarket. The four adjacent fourplexes include sixteen (16) sizable 2 Bedroom-1 Bathroom configurations (+/- 750 SF), which furnish in-unit washers and dryers (93.75%), vaulted ceiling skylights, private enclosed courtyards (75%), dishwashers, garbage disposals, and upgraded finishes.2014-2017 Improvements: Electrical, TPO Roofs, Plumbing, Windows, Interiors.Cap Rate: 6.23%Pro Forma Cap Rate: 10.02%Year-End 5 Valuation: $2, 612, 704
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyBernalillo
- Taxes$12,173
- HOA/Condo/Coop Fees$0
- Days on Site35 Days
- MLS StatusPending
- MLS ID Number1067416
- Home Size Source N/A
- Year Built1962
- Lot Size0.72 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Brick
- Number of Stories 11
- Acreage 0.72
- Zoning R-MH*
- Security Complex Fenced
- Property Sub Type Multi Family
- Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Evaporative CoolingRefrigerated
- Heating Floor Furnace
- Appliances DryerDishwasherFree Standing Gas RangeDisposalMicrowaveRefrigeratorRange HoodWasher
- Flooring ConcreteTile
- Interior Skylights
- Laundry Features Washer HookupDryer HookupIn Unit
- Window Features Skylights
Community Features
- MLS Area 42 - UNM South
- Security Features Complex Fenced