424 Columbia Drive SE, Albuquerque, NM 87106

$900,000

424 Columbia Drive SE, Albuquerque, NM 87106

Property Type: Residential Income Square Footage: 9,880 Lot Size (sq. ft.): 12,496 Status: Closed

Current Price: $900,000 List Date: 4/05/2022 Last Modified: 6/11/2022

Overview

Description

This 16 unit two story townhouse style apartment building is within walking distance to UNM and CNM. Has good walk, bike, and transit scores. This 50+ year old property was built with quality workmanship and has been well maintained. The living room and kitchen are downstairs. A spiral stairs leads up to the bedroom, bathroom, large walk-in closet, linen closet and another smaller closet and balcony. Each apartment has approximately 600 sq ft. Has a new water heater. Unit Summary: Total Units 16, Gross annual rent by April 15th will be $121500. Proforma gross rent at $650 each = $124800. Cap rate after reserves is 5.74 with a GRM of 7.60 and a price per sq. ft. of $91.09.

Listing Details MLS# 1011917

Status Change Info

Pending Date: 2022-04-08
Closing Date: 2022-06-10

Contract Information

List Price/SqFt: 91.09
Allowance/Concession: No

Location

Street #: 424
Street Name: Columbia
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
MLS Area Major: 42 - UNM South
Zone Atlas: K16

CityCounty Data

Subdivision Name: University Height Addition

General Property Description

# of Units: 16
5+ Units: Yes
Units for Sale: 16
Property Sub-Type: Multi-Family
Living Area: 9880
SqFt Source: Broker
Apx Lot Dim Front: 88 feet
Addl Lot Dim: N/A
Apx Lot Dim Side: 142 feet
Lot Description: Corner Lot
Lot Size Source: Plat
Acres: 0.29
Lot SqFt: 12496
Directions: At I 25 turn east on coal to Columbia, south to property
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: Yes
Year Built Exception: Unknown
Age: 51 - 60
# Parking Spaces: 22
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Two
Flood Zone: AO

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 16
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 600
Actual Rent: 625
Max Rent: 124800
Market Rent: 650

Unit Summary

Total Units: 16
Average Unit Size: 600
Average Actual Rent: 625
Annualized: 120000
Total Actual Rent: 10000

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101605715803830901

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 5187

Construction Materials

Block: Yes
Frame: Yes
Stucco: Yes

Amenities

Balconies/Deck: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes
Concrete: Yes
Vinyl: Yes
See Remarks: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

No Utilities: Yes

Income & Expenses

Annual Gross Income: 121864
Operating Expenses: 71423

Build Description

Resale: Yes

Appliances included

Disposal: Yes
Fan/Hood: Yes
Free-Standing Gas Range: Yes
Refrigerator: Yes

Utilities

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

Electric Provider

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

All Furnished: Yes
No Pets: Yes

Metering

All Master Metering: Yes

Operating Expenses

All: Yes

Roof

Tar Gravel: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

6 Month: Yes
Deposits: Yes
Month To Month: Yes
Yearly Lease: Yes

Source

Actual Record: Yes
Broker Provided: Yes

Zoning

R-T*: Yes

Property Features

Construction Materials: Block; Frame; Stucco Build Description: Resale Amenities: Balconies/Deck Appliances included: Disposal; Fan/Hood; Free-Standing Gas Range; Refrigerator Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Concrete; Vinyl; See Remarks Electric Provider: Public Utility Electric: None Miscellaneous Info: All Furnished; No Pets Metering: All Master Metering Operating Expenses: All Owner Pays: Electric; Gas; Sewer; Trash Removal; Water Tenant Pays: No Utilities Roof: Tar Gravel Rental Info: 6 Month; Deposits; Month To Month; Yearly Lease Finance Considered: Cash; Conventional Source: Actual Record; Broker Provided Zoning: R-T*

Documents

Lead Based Paint ›

Form 2100 - Broker Duties Supplemental ›

Listing Office: Cibola Realty Services LLC

Last Updated: June - 11 - 2022

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