4419 Fourth NW, Albuquerque, NM 87107 (MLS# 928346)

4419 Fourth NW, Albuquerque, NM 87107

$9,340,000

Property Type: Residential Income Square Footage: 68,850 Lot Size (sq. ft.): 50,473 Status: Closed

Current Price: $9,340,000 List Date: 9/07/2018 Last Modified: 9/11/2019

Overview

Description

Sale of property was covered under confidentiality agreement - call listing broker for details on sales price/terms. Located in the heart of the north valley along Albuquerque's original Route 66 and at 4419 Fourth NW, this brand new construction apartment community offers an amazing chance to own an investment property in an underserved sub-market. Welcome to the future - the North Fourth Village apartments represent what Albuquerque's new IDO zoning allows - higher density, mixed use, gated parking and more.

Listing Details MLS# 928346

Status Change Info

Pending Date: 2019-06-28
Closing Date: 2019-09-11

Contract Information

List Price/SqFt: 135.66
Allowance/Concession: No

Location

Street #: 4419
Street Name: Fourth
Post Direction: NW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
MLS Area Major: 100 - North Valley
Zone Atlas: F14

General Property Description

# of Units: 75
5+ Units: Yes
Units for Sale: 75
Property Sub-Type: Multi-Family
Living Area: 68850
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 1.16
Lot SqFt: 50473
Directions: From I-40 and Fourth Street - north to property.
Stories: 4
Total Stories in Bldg: 4
Total # of Buildings: Yes
Year Built: 2017
Year Built Exception: New Construction
Age: <1
# Parking Spaces: 83
Disability Access: Yes
LBP Disclosure: No
Builder: J & S Development
Owner Occupant Unit: No

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 6
Style: Commercial
Approx. SqFt: 721
Actual Rent: 876
Max Rent: 1050
Market Rent: 1050
# Baths: 0

# of Unit Types (2)

# of Units: 8
# Baths: Yes
Approx. SqFt: 425
Actual Rent: 745
Max Rent: 764
Market Rent: 764

# of Unit Types (3)

# of Units: 28
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 560
Actual Rent: 854
Max Rent: 904
Market Rent: 904

# of Unit Types (4)

# of Units: 33
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 877
Actual Rent: 944
Max Rent: 994
Market Rent: 994

Unit Summary

Total Units: 75
Average Unit Size: 697.96
Average Actual Rent: 883.73
Annualized: 795360
Total Actual Rent: 66280

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101406039542011407

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 79875

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Wshr/Dryr HU in Unit: Yes

Cooling

Refrigerated: Yes

Flooring

Carpet: Yes
Tile: Yes
Vinyl: Yes

Heating

Electric: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 755365
Operating Expenses: 263914

Build Description

New Construction: Yes

Appliances included

Refrigerator: Yes

Utilities

All City: Yes

Electric Provider

Community: Yes

Miscellaneous Info

No Sign: Yes
Package: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other - See Remarks: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Zoning

MX-M*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: New Construction Amenities: Wshr/Dryr HU in Unit Appliances included: Refrigerator Utilities: All City Heating: Electric Cooling: Refrigerated Flooring: Carpet; Tile; Vinyl Electric Provider: Community Miscellaneous Info: No Sign; Package Metering: Individual Electric; Individual Gas Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Zoning: MX-M*

Documents

Flyer and property info ›

LO SO Buyer, Buyers broker letter ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: September - 11 - 2019

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.