Homes by Carolyn Fischman

8101 Marble Avenue NE, Albuquerque, NM 87110 (MLS# 1044190)

8101 Marble Avenue NE, Albuquerque, NM 87110

$1,600,000
Property Type: Residential Income Square Footage: 11,169 Lot Size (sq. ft.): 28,314 Status: Closed
Current Price: $1,600,000 List Date: 11/02/2023 Last Modified: 5/28/2024

Overview

Description

Cap Rate: 6.08%; Year 2-3 Pro Forma Cap Rate: 8.60%; GRM: 9.97; Year 2-3 Pro Forma GRM: 8.39; Year 2-3 Projected Cash-on-Cash Return: 9.32% to 16.91% *65 LTV 7.15% Fixed Loan & 80 LTV Affordable 4.85% Loan, respectively. Building Age: 1977. Property Highlights: • Marble's Renovated Units Lease 31.12% Higher than those Not Renovated. • Projected Year 2-3 Gross Income Growth: 18.96%. • Substantial Capital Improvements 2018-2023. • Excellent Unit Mix: 50% 1 BR-1 BA, 50% 2 BR-1 BA. • Situated in a Well-Maintained Office Corridor. • Projected Year 5 Value Appreciation @ 6.5% Cap Rate: 37.63%. • Decommissioned Shared-Laundry Facility. • In-Place Utility Reimbursement (RUBS).

Listing Details MLS# 1044190

Status Change Info

Pending Date
2023-11-14
Closing Date
2024-04-02

Contract Information

List Price/SqFt
143.25

Location

Street #
8101
Street Name
Marble
St Suffix
Avenue
Post Direction
NE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87110
MLS Area Major
70 - Fairgrounds
Zone Atlas
J19

General Property Description

# of Units
16
5+ Units
Yes
Units for Sale
Yes
Property Sub-Type
Multi-Family
Living Area
11169
SqFt Source
Professional
Lot Size Source
Survey
Acres
0.65
Lot SqFt
28314
Directions
Head west on Lomas Blvd NE. Turn left onto Pennsylvania St NE. Go for 492 ft. Then, turn right onto Marble Ave NE. Go for 0.2 mi. The ''subject'' property is situated on the northwest corner of Texas Street NE and Marble Ave NE.
Stories
2
Total # of Buildings
Yes
Year Built
1977
Age
41 - 50
# Parking Spaces
24
Disability Access
Yes
LBP Disclosure
No
Builder
Unknown
Owner Occupant Unit
No
Flood Zone
X

Basement

Basement
No

Sales Info

Trade/Xch Considered
No

More Information

# of Unit Types (1)

# of Units
8
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
784
Actual Rent
88986
Max Rent
1144
Market Rent
1025

# of Unit Types (2)

# of Units
8
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
627
Actual Rent
772
Max Rent
895
Market Rent
925

Unit Summary

Total Units
16
Average Unit Size
705.5
Average Actual Rent
44879
Annualized
8616768
Total Actual Rent
718064

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
Not Available

Tax & Legal Info

GRT Code
02-100
Tax Exemption
Unknown
Tax Annual Amount
7749

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Some Landscaping
Yes

Cooling

Evaporative Cooling
Yes

Flooring

Tile
Yes
Vinyl
Yes

Heating

Floor Furnace
Yes

Owner Pays

Gas
Yes
Sewer
Yes
Trash Removal
Yes
Water
Yes

Tenant Pays

Electric
Yes
Other - See Remarks
Yes

Build Description

Resale
Yes

Appliances included

Fan/Hood
Yes
Refrigerator
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Green Energy Generation

None
Yes

Electric Provider

Public Utility
Yes

Electric

Other
Yes

Metering

Individual Electric
Yes
Master Gas
Yes

Parking

1.5 Spaces Per Unit
Yes

Roof

TPO (G)
Yes

Finance Considered

Cash
Yes
Conventional
Yes
FHA
Yes
Joint Venture
Yes
VA
Yes

Rental Info

Other - See Remarks
Yes

Zoning

R-MH*
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Fan/Hood; Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Floor Furnace Cooling: Evaporative Cooling Flooring: Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Electric: Other Metering: Individual Electric; Master Gas Owner Pays: Gas; Sewer; Trash Removal; Water Tenant Pays: Electric; Other - See Remarks Parking: 1.5 Spaces Per Unit Roof: TPO (G) Rental Info: Other - See Remarks Finance Considered: Cash; Conventional; FHA; Joint Venture; VA Zoning: R-MH*
Listing Office: NAI SunVista Commercial RE
Last Updated: May - 28 - 2024
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.

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