1201 S Main Street, Belen, NM 87002 (MLS# 1024314)

1201 S Main Street, Belen, NM 87002

$750,000

Property Type: Residential Income Square Footage: 5,400 Lot Size (sq. ft.): 20,038 Status: Closed

Current Price: $750,000 List Date: 10/13/2022 Last Modified: 7/19/2024

Overview

Description

Excellent investment opportunity in the heart of Belen, NM. Propery provides 9 units, located just off Main St. The property is fully rented with appealing returns. Current CAP rate of 7.2%. Don't hesitate to move on this one. It won't last long.

Listing Details MLS# 1024314

Status Change Info

Pending Date: 2023-06-23
Closing Date: 2023-07-17

Contract Information

List Price/SqFt: 138.89
Allowance/Concession: No

Location

Street #: 1201
Direction: S
Street Name: Main
St Suffix: Street
County: Valencia
City/Town Code: Belen
State/Province: NM
Zip Code: 87002
MLS Area Major: 741 - Belen
Zone Atlas: RRR6

General Property Description

# of Units: 9
5+ Units: Yes
Units for Sale: 9
Property Sub-Type: Multi-Family
Living Area: 5400
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.46
Lot SqFt: 20038
Directions: From I-25 South & I-25BL> Head North on I-25BL(.9 miles)> Property located on the left.
Stories: Yes
Total # of Buildings: 3
Year Built: 2008
Age: 10 - 15
Disability Access: Unknown
LBP Disclosure: No
Builder: unknown
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 8
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 720
Actual Rent: 700
Max Rent: 800
Market Rent: 800

# of Unit Types (2)

# of Units: Yes
# Baths: Yes
Style: studio
Approx. SqFt: 300
Actual Rent: 250
Max Rent: 400
Market Rent: 400

Unit Summary

Total Units: 9
Average Unit Size: 673.33
Average Actual Rent: 650
Annualized: 70200
Total Actual Rent: 5850

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 1006027507240000000

Tax & Legal Info

GRT Code: 14-129
Tax Exemption: Unknown
Tax Annual Amount: 4816.72

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Ceiling Fan(s): Yes
No Landscaping: Yes
Satelite Dish: Yes

Cooling

Central Air: Yes
ENERGY STAR Qualified Equipment: Yes

Flooring

Laminate: Yes
Tile: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 74100
Operating Expenses: 19000

Build Description

Resale: Yes

Appliances included

Free-Standing Gas Range: Yes
Range Hood: Yes

Utilities

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

Electric Provider

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Insurance: Yes
Property Management: Yes
Property Taxes: Yes
Repairs/Maintenance: Yes

Parking

Assigned: Yes

Roof

Shingle: Yes

Finance Considered

Cash: Yes
Conventional: Yes
Owner Financing: Yes

Rental Info

Month To Month: Yes

Zoning

C-1: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Ceiling Fan(s); No Landscaping; Satelite Dish Appliances included: Free-Standing Gas Range; Range Hood Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Central Air; ENERGY STAR Qualified Equipment Flooring: Laminate; Tile Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Insurance; Property Management; Property Taxes; Repairs/Maintenance Owner Pays: Trash Removal; Water Tenant Pays: Electric; Gas Parking: Assigned Roof: Shingle Rental Info: Month To Month Finance Considered: Cash; Conventional; Owner Financing Zoning: C-1

Listing Office: Keller Williams Realty

Last Updated: July - 19 - 2024

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