1100 Palomas Drive SE, Albuquerque NM, 87108
(Active)
$925,488
|
2 beds, 1 baths, 7,720 sqft
|
MLS# 1033316
Last Updated: 5/11/2024 12:22 PM
Description for
1100 Palomas Drive SE
Albuquerque, NM 87108
The prior owner remodeled the property with a new TPO roof, 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.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
Price
$925,488
Lots 1, 2 & 3 Block 12, Virginia Addition
Bernalillo
2
1
7,720 (approx)
1033316
Active
Description
The prior owner remodeled the property with a new TPO roof, 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.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
Listing Information
| Property Type: Multi-Family, 1 Story | ||
| 2 | 1 | |
| 0.56 Acres | 7,720 (approx) | 1955 |
| 1 | Frame | |
Lots 1, 2 & 3 Block 12, Virginia Addition
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Neighborhood
Room Information
Interior Features
Refrigerator
Vinyl
Central Air
Other,
Forced Air, Central
Exterior / Lot Features
Frame
R-MH*
Driving Directions
From I-40 and Gibson - east to San Mateo, north to Eastern, east to Palomas.
Financial Considerations
| 101805610818831610 |
| $5,587 |
Cash, Conventional
Listing Price History
Albuquerque Real Estate
Albuquerque is located in New Mexico. Albuquerque, New Mexico 87108 has a population of 572,777.
The median household income in Albuquerque, New Mexico 87108 is $32,346. The median household income for the surrounding county is $56,090 compared to the national median of $66,222. The median age of people living in Albuquerque 87108 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 4/26/2023 | Active | $925,488 USD |
|