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Listing Courtesy of: Todd Clarke - NM Apartment Advisors, Inc. 505-440-8633 505-440-8633

$963,138

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1100 Palomas Drive Albuquerque, NM 87108

Multi-Family Residence

2 Beds

1 Baths

7,720 Sq. Ft.

0.56 Acre Lot

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Last updated on 9/22/2024 6:12 AM

Listing Details

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. Continue reading

MLS#

1033316

Property Type

Multi-Family

Bedrooms

Bathrooms

Year Built

1955

Square Feet

7,720 sq. ft

Lot Size

0.56