Homes by Carolyn Fischman

1018 Silver Avenue SW, Albuquerque, NM 87102 (MLS# 930839)

1018 Silver Avenue SW, Albuquerque, NM 87102

$1,212,000
Property Type: Residential Income Square Footage: 9,756 Lot Size (sq. ft.): 27,857 Status: Closed
Current Price: $1,212,000 List Date: 10/18/2018 Last Modified: 3/09/2020

Overview

Description

Developed by the Plunkett family in 1930s and 1950s, this apartment community offers live-in amenities that are unparalleled in downtown living. The large, 2,824 house contains a family room, a living doom, a dining room, a bonus room and four bedrooms (we have listed it as a 3 bedroom as you enter one bedroom through another room) and 2/5 baths. The property has lush garden areas, spacious areas full of grass, a laundry room, a car port and five garages. At the ask price of $1,212,000 and an average rent of $1,009, the measure of investment performance include a GRM of 9.10, a CAP rate of 6.28%, a price per unit of $110,182, a price per square foot of $124.23 a before tax IRR of 14.30% and an after tax IRR of 11.40%. If rents were raised to market of $1,055, MIP improves to 6.

Listing Details MLS# 930839

Status Change Info

Pending Date
2020-01-03
Closing Date
2020-03-09

Contract Information

List Price/SqFt
124.23
Allowance/Concession
No

Location

Street #
1018
Street Name
Silver
St Suffix
Avenue
Post Direction
SW
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87102
Zip +4
2953
MLS Area Major
80 - Downtown Area
Zone Atlas
K13

CityCounty Data

Subdivision Name
Raynolds Add

General Property Description

# of Units
11
5+ Units
Yes
Units for Sale
11
Property Sub-Type
Multi-Family
Living Area
9756
SqFt Source
Floorplan
Lot Size Source
On-Line
Acres
0.64
Lot SqFt
27857
Directions
From I-40 and I-25 west on I-40 to Sixth Street exit, south to Silver, west to property.
Stories
2
Total Stories in Bldg
2
Total # of Buildings
6
Year Built
1935
Age
71 - 80
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Plunkett
Owner Occupant Unit
Yes
Multiple Lots
Five

Basement

Basement
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
3
# of Bedrooms
Yes
# Baths
Yes
Style
11tth street
Approx. SqFt
691
Actual Rent
875
Max Rent
900
Market Rent
950

# of Unit Types (2)

# of Units
Yes
# of Bedrooms
4
# Baths
2.5
Style
House
Approx. SqFt
2824
Actual Rent
2200
Max Rent
2200
Market Rent
2200

# of Unit Types (3)

# of Units
6
# of Bedrooms
Yes
# Baths
Yes
Style
Silver street
Approx. SqFt
655
Actual Rent
879
Max Rent
958
Market Rent
979

# of Unit Types (4)

# of Units
Yes
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
929
Actual Rent
995
Max Rent
990
Market Rent
1000

Unit Summary

Total Units
11
Average Unit Size
886.9
Average Actual Rent
1008.54
Annualized
133128
Total Actual Rent
11094

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101305745338512412

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
6190

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Enclosed Yard
Yes
Fireplace Some Units
Yes

Cooling

Evaporative Cooling
Yes
Multi Units
Yes

Flooring

Tile
Yes
Vinyl
Yes
Wood
Yes

Heating

2+ Units
Yes
Gas
Yes

Owner Pays

Other - See Remarks
Yes

Tenant Pays

Other - See Remarks
Yes

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

All City
Yes

Electric Provider

Community
Yes

Electric

None
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Other - See Remarks
Yes

Source

Broker Provided
Yes
Owner Provided
Yes

Zoning

SU-2
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Enclosed Yard; Fireplace Some Units Appliances included: Refrigerator Utilities: All City Heating: 2+ Units; Gas Cooling: Evaporative Cooling; Multi Units Flooring: Tile; Vinyl; Wood Electric Provider: Community Electric: None Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Source: Broker Provided; Owner Provided Zoning: SU-2
Listing Office: NM Apartment Advisors, Inc.
Last Updated: March - 09 - 2020
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Scroll to Top

Let's Connect!