501 Bullock Avenue, Socorro, NM 87801 (MLS# 1011423)

501 Bullock Avenue, Socorro, NM 87801

$1,300,180

Property Type: Residential Income Square Footage: 12,800 Lot Size (sq. ft.): 26,136 Status: Closed

Current Price: $1,300,180 List Date: 3/26/2022 Last Modified: 8/09/2022

Overview

Description

This 16 unit community is surrounded by housing for NM Tech and school of Mines and is walking distance to the center of campus as well as all of the retail opportunities on Main Street Socorro. Located at 501-533 Bullock street, in Socorro NM, which is an hour drive south of Albuquerque and 2 hours north of Las Cruces. The property has built in, no cost adjacent amenities in the form of City swimming pool, parks, ball fields and tennis course. Owned by the same family for decades, this 16-unit community was built in the 1970s. The property contains four, four unit buildings that are each two story with pitched roofs, all on one 0.60 acre parcel of land. Based on the current average rents of $600 per month, the property's measures of investment performance include a 11.29 GRM 6.06%

Listing Details MLS# 1011423

Status Change Info

Pending Date: 2022-06-16
Closing Date: 2022-08-09

Contract Information

List Price/SqFt: 101.58
Allowance/Concession: No

Location

Street #: 501
Street Name: Bullock
St Suffix: Avenue
County: Socorro
City/Town Code: Socorro
State/Province: NM
Zip Code: 87801
Zip +4: 4747
MLS Area Major: 620 - North Socorro
Zone Atlas: NOZA

CityCounty Data

Subdivision Name: JE Hall Subd

General Property Description

# of Units: 16
5+ Units: Yes
Units for Sale: 16
Property Sub-Type: Multi-Family
Living Area: 12800
Lot Size Source: On-Line
Acres: 0.6
Lot SqFt: 26136
Directions: From I-25 and ABQ south to Socorro - exit first exit continue down California Street south to Bullock, west on Bullock and property (also on corner of El Camino real)
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 4
Year Built: 1979
Age: 41 - 50
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: AH

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 7
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 800
Actual Rent: 600
Max Rent: 600
Market Rent: 850

# of Unit Types (2)

# of Units: 9
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 800
Actual Rent: 600
Max Rent: 600
Market Rent: 850

Unit Summary

Total Units: 16
Average Unit Size: 800
Average Actual Rent: 600
Annualized: 115200
Total Actual Rent: 9600

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 0010650093

Tax & Legal Info

GRT Code: 25-125
Tax Exemption: Unknown
Tax Annual Amount: 1403.2

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

No Landscaping: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes
Tile: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 111744
Operating Expenses: 36984

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

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other - See Remarks: Yes

Roof

Shingle: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Source

Actual Record: Yes
Broker Provided: Yes
Owner Provided: Yes

Zoning

R-2: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Tile Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Roof: Shingle Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Source: Actual Record; Broker Provided; Owner Provided Zoning: R-2

Documents

Flyer & APOD ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: August - 09 - 2022

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.