Homes by Carolyn Fischman

401 14th & 416-422 14th Street SW, Albuquerque, NM 87102 (MLS# 952272)

401 14th & 416-422 14th Street SW, Albuquerque, NM 87102

$1,742,500
Property Type: Residential Income Square Footage: 12,745 Lot Size (sq. ft.): 17,424 Status: Closed
Current Price: $1,742,500 List Date: 8/22/2019 Last Modified: 2/05/2020

Overview

Description

NM Apartment Advisors is excited to bring to market this amazing 1940svintage downtown Albuquerque apartment portfolio located on the edge of the Country Club Neighborhood and spanning two zip codes. Located at 416-422 14th SW, 401 14th SW (87102) and 1406 Gold SW (87104). This is a core asset with stabilized cash flow and recent renovations, its also a value add deal with rents that are 29.00% below market. Located across the street from the each other, the 8 and 14 unit property each have private secure court yards. 401 14th SW also has 14 recently renovated garages (12 alley access, 2 street access). Measures of investment performance at ask price of $1,742,500 and current average rent of $587 are a GRM of 11.24, a 6.15% cap rate, $79,204 per unit, and $149/sf.

Listing Details MLS# 952272

Status Change Info

Pending Date
2019-10-14
Closing Date
2020-02-05

Contract Information

List Price/SqFt
136.72

Location

Street #
401
Street Name
14th & 416-422 14th
St Suffix
Street
Post Direction
SW
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87102
Zip +4
2884
MLS Area Major
80 - Downtown Area
Zone Atlas
K13

CityCounty Data

Subdivision Name
Huning Castle Add

General Property Description

# of Units
22
5+ Units
Yes
Units for Sale
22
Property Sub-Type
Multi-Family
Living Area
12745
Lot Size Source
On-Line
Acres
0.4
Lot SqFt
17424
Directions
From I-40 and Rio Grande, south on Rio Grande to Central, west to 10th street, south to Gold, west to property.
Stories
Yes
Total Stories in Bldg
Yes
Total # of Buildings
8
Year Built
1940
Age
71 - 80
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Unknown
Owner Occupant Unit
No
Multiple Lots
Five

Basement

Basement
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
6
# Baths
Yes
Approx. SqFt
537
Actual Rent
565
Max Rent
575
Market Rent
705

# of Unit Types (2)

# of Units
16
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
525
Actual Rent
595
Max Rent
650
Market Rent
852

Unit Summary

Total Units
22
Average Unit Size
528.27
Average Actual Rent
586.81
Annualized
154920
Total Actual Rent
12910

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101305732744212706

Tax & Legal Info

GRT Code
02-100
Tax Exemption
Unknown
Tax Annual Amount
7959

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Some Landscaping
Yes

Cooling

Evaporative Cooling
Yes

Flooring

Wood
Yes

Heating

Other
Yes

Owner Pays

Other - See Remarks
Yes

Tenant Pays

Other - See Remarks
Yes

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Phone Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Electric Provider

Community
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Other - See Remarks
Yes

Source

Actual Record
Yes
Broker Provided
Yes
Owner Provided
Yes

Zoning

MX-L*
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected Heating: Other Cooling: Evaporative Cooling Flooring: Wood Electric Provider: Community Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Source: Actual Record; Broker Provided; Owner Provided Zoning: MX-L*
Listing Office: NM Apartment Advisors, Inc.
Last Updated: February - 05 - 2020
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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