4801 GIBSON Boulevard SE, Albuquerque, NM 87108

$4,012,877

Virtual Tour

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Property Type: Residential Income Square Footage: 29,010 Lot Size (sq. ft.): 40,075 Status: Closed

Current Price: $4,012,877 List Date: 6/29/2021 Last Modified: 9/30/2021

Overview

Description

Eight year old thirty unit apartment complex featuring large units, upscale architectural features such as arches, nichos and high ceilings, grass court yard and gated parking lots. The unit mix of ten one bedroom one bath units-768 square feet each, fourteen two bedroom two bath units-1056 square feet and six two bedroom two bath units-1086 square feet is a rarity in the Albuquerque area. All units have refrigerated air conditioning and hydronic heating. The property was completed in 2013 by an experienced apartment builder and has been in his portfolio since completion. The property is self managed and current rents are improvable. Rents are being increased as the units turn over. All units include washer and dryers. Kitchens include dishwasher, microwave and disposals.Walk score of 69,

Supplements: Transit score of 34. Bike score of 95. Offer/LOI subject to inspections. Please do not walk the property, contact tenants or otherwise trespass on the property without permission/accompaniment of Listing Broker.

Listing Details MLS# 995443

Status Change Info

Pending Date: 2021-07-02
Closing Date: 2021-09-30

Contract Information

List Price/SqFt: 138.33
Allowance/Concession: No

Location

Street #: 4801
Street Name: GIBSON
St Suffix: Boulevard
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 4549
MLS Area Major: 42 - UNM South
Zone Atlas: L17

General Property Description

# of Units: 30
5+ Units: Yes
Units for Sale: 30
Property Sub-Type: Multi-Family
Living Area: 29010
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.92
Lot SqFt: 40075.2
Directions: From Gibson and Carlisle SE, east on Gibson to property.
Stories: 3
Total # of Buildings: 2
Year Built: 2013
Age: 7 - 9
# Parking Spaces: 50
Disability Access: Yes
LBP Disclosure: No
Builder: Ron Paiz Construction
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 10
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 768
Actual Rent: 850
Max Rent: 1000
Market Rent: 1000

# of Unit Types (2)

# of Units: 14
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 1056
Actual Rent: 1000
Max Rent: 1100
Market Rent: 1100

# of Unit Types (3)

# of Units: 6
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 1086
Actual Rent: 1000
Max Rent: 1100
Market Rent: 1100

Unit Summary

Total Units: 30
Average Unit Size: 966
Average Actual Rent: 950
Annualized: 342000
Total Actual Rent: 28500

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101705642501140301

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 29056.36

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Balconies/Deck: Yes
Ceiling Fan(s): Yes
Gated: Yes
Private Patios: Yes
Some Landscaping: Yes
Sprinklers: Yes

Cooling

Refrigerated: Yes

Flooring

Carpet: Yes
Tile: Yes

Heating

Central: Yes
Forced Air: Yes
Hot Water: Yes

Owner Pays

Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 323520
Operating Expenses: 68042

Build Description

Resale: Yes

Appliances included

Dishwasher: Yes
Dryer: Yes
Fan/Hood: Yes
Free-Standing Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Utilities

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

Electric Provider

Public Utility: Yes

Electric

None: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

All: Yes

Parking

1.5 Spaces Per Unit: Yes
Paved: Yes

Roof

Tile: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Current Lse Agreemnt: Yes
Month To Month: Yes

Source

Owner Provided: Yes

Zoning

R-ML*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Balconies/Deck; Ceiling Fan(s); Gated; Private Patios; Some Landscaping; Sprinklers Appliances included: Dishwasher; Dryer; Fan/Hood; Free-Standing Electric Range; Microwave; Refrigerator; Washer Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air; Hot Water Cooling: Refrigerated Flooring: Carpet; Tile Electric Provider: Public Utility Electric: None Metering: Individual Electric; Individual Gas Operating Expenses: All Owner Pays: Sewer; Trash Removal; Water Tenant Pays: Electric; Gas Parking: 1.5 Spaces Per Unit; Paved Roof: Tile Rental Info: Current Lse Agreemnt; Month To Month Finance Considered: Cash; Conventional Source: Owner Provided Zoning: R-ML*

Listing Office: ABQ Properties LLC

Last Updated: September - 30 - 2021

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