1109 ARIZONA Street SE, Albuquerque, NM 87108

$1,100,000

Rear of property with fenced in A/C units

Basement, could be used for storage or laundry room

Property Type: Residential Income Square Footage: 9,400 Lot Size (sq. ft.): 17,424 Status: Closed

Current Price: $1,100,000 List Date: 3/21/2023 Last Modified: 2/09/2024

Overview

Description

The property is located near Kirtland Air Force Base, The Albuquerque International Sunport, and the new MAX Q @ Kirtland mixed used development. The location is easily accessed from Interstate Highway 25 via Gibson Boulevard., or Interstate 40 via San Mateo or Louisiana Boulevards. The property is near restaurants, shopping, healthcare, and recreation. The Gibson Gate to Kirtland Air Force Base, with a 26,000-person workforce, is a two-minute drive from the property. The property features eight one bedroom, one-bathroom units and four two-bedroom, two-bathroom units. Under the current ownership ten of the units have been updated by the current owner with new flooring, new kitchen cabinets, paint and bathroom vanities.

Supplements: The two story building features four one bedroom units in the center of each floor, and two bedroom units at the north and south ends of each floor. Units feature central forced air heating and refrigerated air-conditioning. The property is master metered for gas and electricity. In addition to a 5% rent increase, a new owner could easily add a ... (Read more)

Listing Details MLS# 1031331

Status Change Info

Pending Date: 2023-05-13
Closing Date: 2023-08-18

Contract Information

List Price/SqFt: 117.02
Allowance/Concession: No

Location

Street #: 1109
Street Name: ARIZONA
St Suffix: Street
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 5551
MLS Area Major: 71 - Southeast Heights
Zone Atlas: L18

General Property Description

# of Units: 12
5+ Units: Yes
Units for Sale: 12
Property Sub-Type: Multi-Family
Living Area: 9400
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.4
Lot SqFt: 17424
Directions: From Gibson and San Pedro, East on San Pedro to Arizona. North on Arizona to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: Yes
Year Built: 1971
Year Built Exception: Unknown
Age: 51 - 60
# Parking Spaces: 25
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: Yes
Bsmt Overall SqFt: 500
Basement Heated: No
Basement Finished: No
Basement Entry/Exit: Walkout

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 875
Actual Rent: 1050
Max Rent: 1200
Market Rent: 1100

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 875
Actual Rent: 1070
Max Rent: 1200
Market Rent: 1100

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 875
Actual Rent: 1040
Max Rent: 1200
Market Rent: 1100

# of Unit Types (4)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 875
Actual Rent: 1025
Max Rent: 1200
Market Rent: 1100

# of Unit Types (5)

# of Units: 3
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 850
Max Rent: 900
Market Rent: 900

# of Unit Types (6)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 825
Max Rent: 900
Market Rent: 900

# of Unit Types (7)

# of Units: 2
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 800
Max Rent: 900
Market Rent: 900

# of Unit Types (8)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 711
Max Rent: 900
Market Rent: 900

# of Unit Types (9)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 750
Max Rent: 900
Market Rent: 900

Unit Summary

Total Units: 12
Average Unit Size: 725
Average Actual Rent: 885.08
Annualized: 127452
Total Actual Rent: 10621

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101805628505440111

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 5222.56

Construction Materials

Brick: Yes
Brick Veneer: Yes
Frame: Yes

Amenities

Enclosed Yard: Yes

Cooling

Central Air: Yes
Refrigerated: Yes

Flooring

Tile: Yes
Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

None: Yes

Income & Expenses

Annual Gross Income: 77455
Operating Expenses: 49997

Build Description

Resale: Yes

Appliances included

Free-Standing Electric Range: Yes
Refrigerator: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Metering

All Master Metering: Yes

Parking

2+Spaces Per Unit: Yes

Roof

Pitched: Yes

Finance Considered

Conventional: Yes

Rental Info

Month To Month: Yes

Source

Owner Provided: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Brick; Brick Veneer; Frame Build Description: Resale Amenities: Enclosed Yard Appliances included: Free-Standing Electric Range; Refrigerator Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Central Air; Refrigerated Flooring: Tile; Vinyl Electric Provider: Public Utility Electric: None Metering: All Master Metering Owner Pays: Electric; Gas; Sewer; Trash Removal; Water Tenant Pays: None Parking: 2+Spaces Per Unit Roof: Pitched Rental Info: Month To Month Finance Considered: Conventional Source: Owner Provided Zoning: R-MH*

Listing Office: ABQ Properties LLC

Last Updated: February - 09 - 2024

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