219 & 231 MURIEL Street NE, Albuquerque, NM 87123

$862,500

Property Type: Residential Income Lot Size (sq. ft.): 26,136 Status: Closed

Current Price: $862,500 List Date: 9/06/2021 Last Modified: 1/13/2022

Overview

Description

Huge price reduction on 10-unit mobile home pk with owner financing! Units have been reconditioned and include 8 mobile homes, one 2200 sf 3 bdrm 2 ba home with 2 car garage, an additional 1 car garage for storage, and an efficiency. This property is a cash cow grossing machine producing more than $100,000 per year with 6.5% Cap. Many of the rents have not been raised in 3 yrs. At market rents this park will operate at 7.7% CAP rate. All homes have had extensive remodeling. Park models include 3 three bdrm 2 bath homes, 1 two bdrm 2 bath home, 5 two bdrm 1 bath homes, and one efficiency. All models including efficiency have washers and dryers and solid surface flooring. No carpet. All models are owned by park. 100% leased! Owner financing available with 25% down

Listing Details MLS# 1000515

Status Change Info

Pending Date: 2021-10-19
Closing Date: 2022-01-13

Contract Information

Allowance/Concession: No

Location

Street #: 219 & 231
Street Name: MURIEL
St Suffix: Street
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87123
Zip +4: 2955
MLS Area Major: 50 - Northeast Heights
Zone Atlas: L21

General Property Description

# of Units: 10
5+ Units: Yes
Property Sub-Type: Multi-Family
Lot Size Source: On-Line
Acres: 0.6
Lot SqFt: 26136
Directions: From Juan Tabo & Central: North on Juan Tab o to Linn Ave. Left on Linn to Muriel St. Right on Muriel to property on left.
Stories: Yes
Total # of Buildings: 9
Year Built Exception: Unknown
Age: 31 - 40
Disability Access: No
LBP Disclosure: Yes
Builder: unknown
Owner Occupant Unit: No
Multiple Lots: Four
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: Yes
# of Bedrooms: 3
# Baths: 2
Approx. SqFt: 2200
Actual Rent: 1268
Max Rent: 1700
Market Rent: 1500

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 3
# Baths: 2
Approx. SqFt: 1100
Actual Rent: 975
Max Rent: 1050
Market Rent: 995

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 800
Actual Rent: 925
Max Rent: 975
Market Rent: 950

# of Unit Types (4)

# of Units: 3
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 1000
Actual Rent: 875
Max Rent: 850
Market Rent: 925

# of Unit Types (5)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 800
Actual Rent: 940
Max Rent: 975
Market Rent: 950

# of Unit Types (6)

# of Units: Yes
# of Bedrooms: 3
# Baths: 2
Approx. SqFt: 1000
Actual Rent: 750
Max Rent: 1000
Market Rent: 975

# of Unit Types (7)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 400
Actual Rent: 585
Max Rent: 625
Market Rent: 600

# of Unit Types (8)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 800
Actual Rent: 650
Max Rent: 950
Market Rent: 875

Unit Summary

Total Units: 10
Average Unit Size: 1010
Average Actual Rent: 871.8
Annualized: 104616
Total Actual Rent: 8718

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 102105647152711505

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 2493

Construction Materials

Aluminum Siding: Yes
Frame: Yes

Amenities

Enclosed Yard: Yes
Laundry Equip. Owned: Yes
Outside Lights: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Laminate: Yes
Vinyl: Yes

Heating

Wall Unit: Yes

Owner Pays

Some Utilities: Yes
Water: Yes

Tenant Pays

Some Utilities: Yes

Income & Expenses

Annual Gross Income: 104916
Operating Expenses: 18874

Build Description

Resale: Yes

Appliances included

Dryer: Yes
Free-Standing Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Available: Yes
Phone 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
Utilities: Yes

Parking

1.5 Spaces Per Unit: Yes

Roof

Metal: Yes
Shingle: Yes
Tar Gravel: Yes

Finance Considered

Cash: Yes
Conventional: Yes
Owner Financing: Yes

Rental Info

Current Lse Agreemnt: Yes

Source

Actual Record: Yes

Zoning

MX-H*: Yes

Property Features

Construction Materials: Aluminum Siding; Frame Build Description: Resale Amenities: Enclosed Yard; Laundry Equip. Owned; Outside Lights Appliances included: Dryer; Free-Standing Electric Range; Microwave; Refrigerator; Washer Utilities: Cable Connected; Electricity Connected; Natural Gas Available; Phone Connected; Sewer Connected; Water Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Laminate; Vinyl Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Insurance; Property Management; Property Taxes; Repairs/Maintenance; Utilities Owner Pays: Some Utilities; Water Tenant Pays: Some Utilities Parking: 1.5 Spaces Per Unit Roof: Metal; Shingle; Tar Gravel Rental Info: Current Lse Agreemnt Finance Considered: Cash; Conventional; Owner Financing Source: Actual Record Zoning: MX-H*

Documents

APOD ›

Portfolio Offering ›

Listing Office: Dave Slade & Associates LLC

Last Updated: January - 13 - 2022

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