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

$930,000

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335 Espanola Street Albuquerque, NM 87108

Multi-Family Residence

Beds

1 Baths

7,500 Sq. Ft.

0.46 Acre Lot

Property Activity

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Last updated on 9/22/2024 6:13 AM

Listing Details

Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increa...se from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre Continue reading

MLS#

1044432

Property Type

Multi-Family

Bathrooms

Year Built

1946

Square Feet

7,500 sq. ft

Lot Size

0.46

Sewer