Homes by Carolyn Fischman

304-308 Pennslvania Street NE, Albuquerque, NM 87108 (MLS# 1058913)

304-308 Pennslvania Street NE, Albuquerque, NM 87108

$945,000
Property Type: Residential Income Lot Size (sq. ft.): 16,204 Status: Closed
Current Price: $945,000 List Date: 3/15/2024 Last Modified: 6/26/2024

Overview

Description

Welcome to this exceptional investment opportunity in Albuquerque! We are proud to present a well-maintained 10-unit multifamily property offering affordable housing solutions. This property offers an opportunity for a reliable stream of rental income fulfilling a vital community need through the Section 8 housing program. Socially conscious investors provide much-needed 2-bed units with 850 SQFT layouts, with its own w/d hookups. SECT 8 housing provides stability & direct deposit of rent payments. Current rents are 50% below SECT 8 rates with current leases all at month to month. Viewing the property is available AFTER an accepted offer. Current tenants have rights. Secure your investment in this lucrative opportunity.

Listing Details MLS# 1058913

Status Change Info

Pending Date
2024-04-20
Closing Date
2024-06-26

Location

Street #
304-308
Street Name
Pennslvania
St Suffix
Street
Post Direction
NE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87108
MLS Area Major
70 - Fairgrounds
Zone Atlas
K19

CityCounty Data

Subdivision Name
La Mesa

General Property Description

# of Units
10
5+ Units
Yes
Units for Sale
10
Property Sub-Type
Multi-Family
Lot Size Source
On-Line
Acres
0.37
Lot SqFt
16204
Directions
From Central, North on Pennsylvania St NE. Property is on the East side of road.
Stories
2
Total # of Buildings
2
Year Built
1980
Age
Select One
Disability Access
Unknown
LBP Disclosure
No
Builder
unknown
Owner Occupant Unit
No
Flood Zone
X

Cooling

Centrally Ducted
No
Evaporative Cooling
Yes

More Information

Basement

Basement
No

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
10
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
850
Actual Rent
600
Max Rent
1258
Market Rent
1100

Unit Summary

Total Units
10
Average Unit Size
850
Average Actual Rent
600
Annualized
72000
Total Actual Rent
6000

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
Not Available

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
5596

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

No Landscaping
Yes
Outside Lights
Yes
Wshr/Dryr HU in Unit
Yes

Flooring

Carpet
Yes
Tile
Yes

Heating

Central
Yes
Forced Air
Yes

Owner Pays

Water
Yes

Tenant Pays

Electric
Yes
Gas
Yes

Build Description

Resale
Yes

Appliances included

Dryer H/U
Yes
Free-Standing Electric Range
Yes
Refrigerator
Yes
Washer H/U
Yes

Utilities

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

Green Energy Generation

None
Yes

Electric Provider

Public Utility
Yes

Metering

Individual Electric
Yes
Individual Gas
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Month To Month
Yes

Zoning

R-ML*
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: No Landscaping; Outside Lights; Wshr/Dryr HU in Unit Appliances included: Dryer H/U; Free-Standing Electric Range; Refrigerator; Washer H/U Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Tile Green Energy Generation: None Electric Provider: Public Utility Metering: Individual Electric; Individual Gas Owner Pays: Water Tenant Pays: Electric; Gas Rental Info: Month To Month Finance Considered: Cash; Conventional Zoning: R-ML*
Listing Office: Realty One of New Mexico
Last Updated: June - 26 - 2024
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.

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