335 Espanola Street NE, Albuquerque NM, 87108
(Active)
$875,997
|
1 baths, 7,500 sqft
|
MLS# 1044432
Last Updated: 5/11/2024 12:46 AM
Description for
335 Espanola Street NE
Albuquerque, NM 87108
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
Price
$875,997
La Mesa Addition
Bernalillo
1
7,500 (approx)
1044432
Active
Description
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
Listing Information
| Property Type: Multi-Family, 1 Story | ||
| 1 | 0.46 Acres | |
| 7,500 (approx) | 1946 | 1 |
| Block,Frame | ||
La Mesa Addition
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Neighborhood
Room Information
Interior Features
Refrigerator
Carpet, Wood
Evaporative
Other,
Forced Air, Floor Furnace, Central, Wall Furnace
Exterior / Lot Features
Frame, Block
R-T*
Driving Directions
From I-40 and Louisiana south to Copper east to Espanola, south to property.
Financial Considerations
| 101905712325632311 |
| $4,576 |
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)
| Street Address | City | Beds | Baths | Sold Price | Sold Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/8/2024 | Active | $875,997 USD 3.06% |
|
| 1/26/2024 | Pending | $850,000 USD |
|
| 11/7/2023 | Active | $850,000 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $4,736 USD | 3.50% | $110,817 USD | 3.00% |
| 2022 | $4,576 USD | 0.46% | $107,590 USD | - |
| 2021 | $4,555 USD | -1.30% | $107,590 USD | - |
| 2020 | $4,615 USD | 0.04% | $107,590 USD | - |
| 2019 | $4,613 USD | 0.65% | $107,590 USD | - |