700-706 Fruit Avenue NW, Albuquerque, NM 87102

$1,850,000

Property Type: Residential Income Square Footage: 9,250 Lot Size (sq. ft.): 54,000 Status: Closed

Current Price: $1,850,000 List Date: 12/16/2021 Last Modified: 2/12/2022

Overview

Description

Ten sparkling downtown townhouses in a well-maintained 20 unit complex. All units fully renovated with granite counters, stainless appliances, wood-burning fireplaces, fenced patios, upstairs balconies and skylights. Two bedrooms upstairs with a full bath, and a 1/2 bath downstairs. Big pantry in each unit. Each bedroom features a vanity ideal for roommates or older children. Great rental history with occupancy averaging under three per cent. Most tenants stay 3+ years HOA has strong financial history and cash reserves. Nice community mix of renters and owners. Next door to Lew Wallace Elementary School, and just blocks to courthouses and downtown.

Listing Details MLS# 1006111

Status Change Info

Pending Date: 2021-12-21
Closing Date: 2022-02-10

Contract Information

List Price/SqFt: 200

Location

Street #: 700-706
Street Name: Fruit
St Suffix: Avenue
Post Direction: NW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
MLS Area Major: 80 - Downtown Area
Zone Atlas: J14

General Property Description

# of Units: 10
5+ Units: Yes
Units for Sale: 10
Property Sub-Type: Other - See Remarks
Living Area: 9250
SqFt Source: Broker
Lot Size Source: Broker
Acres: 1.24
Lot SqFt: 54000
Directions: from Lomas and 7th, south on 7th, west on Fruit, parking lot on south side of Fruit
Stories: 2
Total # of Buildings: 4
Year Built: 1982
Age: 31 - 40
# Parking Spaces: 30
Disability Access: No
LBP Disclosure: No
Builder: Tekin
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: Yes

More Information

# of Unit Types (1)

# of Units: 10
# of Bedrooms: 2
# Baths: 1.5
Approx. SqFt: 925
Actual Rent: 1225
Max Rent: 1325
Market Rent: 1295

Unit Summary

Total Units: 10
Average Unit Size: 925
Average Actual Rent: 1225
Annualized: 147000
Total Actual Rent: 12250

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101405808410032024

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 10500

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Balconies/Deck: Yes
Ceiling Fan(s): Yes
Fireplace All Units: Yes
Outside Lights: Yes
Some Landscaping: Yes
Wshr/Dryr HU in Unit: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes
Tile: Yes
Vinyl: Yes
Wood: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Association Fees: Yes
Maintenance: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 151200
Operating Expenses: 47943

Build Description

Resale: Yes

Appliances included

Dishwasher: Yes
Disposal: Yes
Dryer H/U: Yes
Free-Standing Electric Range: Yes
Free-Standing Gas Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer H/U: Yes

Utilities

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

Trade/Xch Terms

Equity See LO/SO: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

Pets Limited: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Insurance: Yes
Property Management: Yes
Property Taxes: Yes
Repairs/Maintenance: Yes

Parking

1.5 Spaces Per Unit: Yes
Assigned: Yes
Paved: Yes

Roof

Shingle: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Deposits: Yes
Pet Deposit: Yes
Yearly Lease: Yes

Source

Broker Provided: Yes

Zoning

R-ML*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Balconies/Deck; Ceiling Fan(s); Fireplace All Units; Outside Lights; Some Landscaping; Wshr/Dryr HU in Unit Appliances included: Dishwasher; Disposal; Dryer H/U; Free-Standing Electric Range; Free-Standing Gas Range; Microwave; Refrigerator; Washer H/U Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Tile; Vinyl; Wood Electric Provider: Public Utility Electric: None Miscellaneous Info: Pets Limited Metering: Individual Electric; Individual Gas Operating Expenses: Insurance; Property Management; Property Taxes; Repairs/Maintenance Owner Pays: Association Fees; Maintenance Tenant Pays: Electric; Gas Parking: 1.5 Spaces Per Unit; Assigned; Paved Roof: Shingle Rental Info: Deposits; Pet Deposit; Yearly Lease Finance Considered: Cash; Conventional Source: Broker Provided Zoning: R-ML*

Documents

Income and Expense ›

Listing Office: Full Service Realty LLC

Last Updated: February - 12 - 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.