Homes by Carolyn Fischman

3410 Thaxton (& 14,18,22,30,34,38) Avenue SE, Albuquerque, NM 87106 (MLS# 1013743)

3410 Thaxton (& 14,18,22,30,34,38) Avenue SE, Albuquerque, NM 87106

$2,445,000
Property Type: Residential Income Square Footage: 21,420 Lot Size (sq. ft.): 6,098 Status: Closed
Current Price: $2,445,000 List Date: 5/02/2022 Last Modified: 9/29/2023

Overview

Description

8 unit portfolio of seven fourplexes, owned by the same family for over 25 years. Located at 3410, 3414, 3418 , 3422, 3430, 3430 and 3438 Thaxton SE, this community is served by all of the new employment and restaurants along the Gibson/Airport corridor. This value-add asset is ripe for an investor looking to reposition an asset. Full inspection reports are now available and the new price reflects the work that could be done by the next owner. As the ask price of $2,445,000 and with an average rent of $723, the measures of investment performance include $87,123 per unit, $114.15 per square foot, a before reserves cap rates of 6.10%, and an after tax IRR of 13.60%. If rents are moved to market of $1,050, measure of investment performance improve to a cap rate of 10.02%.

Listing Details MLS# 1013743

Status Change Info

Pending Date
2023-06-29
Closing Date
2023-09-29

Contract Information

List Price/SqFt
114.15
Allowance/Concession
No

Location

Street #
3410
Street Name
Thaxton (& 14,18,22,30,34,38)
St Suffix
Avenue
Post Direction
SE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87106
Zip +4
2494
MLS Area Major
42 - UNM South
Zone Atlas
L16

CityCounty Data

Subdivision Name
Knob Heights

General Property Description

# of Units
28
5+ Units
Yes
Units for Sale
28
Property Sub-Type
Multi-Family
Living Area
21420
SqFt Source
Professional
Lot Size Source
On-Line
Acres
0.14
Lot SqFt
6098.4
Directions
From I-25 and Gibson, east on Gibson, North to Carlisle, north to Thaxton, west to property.
Stories
Yes
Total Stories in Bldg
Yes
Total # of Buildings
7
Year Built
1963
Age
51 - 60
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Unknown
Owner Occupant Unit
No
Multiple Lots
Five
Flood Zone
X

Basement

Basement YN
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
28
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
765
Actual Rent
723
Max Rent
800
Market Rent
1050

Unit Summary

Total Units
28
Average Unit Size
765
Average Actual Rent
723
Annualized
242928
Total Actual Rent
20244

Property Features

Construction Materials: Brick Veneer; Frame Build Description: Resale Amenities: Some Landscaping Appliances included: Washer H/U Utilities: Electricity Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Vinyl Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Other - See Remarks Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Roof: Flat; Shake Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Zoning: R-MH*
Listing Office: NM Apartment Advisors, Inc.
Last Updated: September - 29 - 2023
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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