Listing Courtesy of: Sarah Raboff - NAI SunVista Commercial RE
505-878-0001
505-690-3232
$1,425,000
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7600 Central Avenue Albuquerque, NM 87108
Multi-Family
Residence
1
Beds
1
Baths
10,515
Sq. Ft.
0.63
Acre
Lot
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The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual ...for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*
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MLS#
1067286
Property Type
Multi-Family
Bedrooms
1
Bathrooms
Year Built
1946
Square Feet
10,515
sq. ft
Lot Size
0.63
Sewer
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