Address
1422 4Th Street NW Albuquerque, NM
Price
$ 450,000
Property Attributes
  • MLS#921090
  • TypeMulti-Family
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaDowntown Area
  • NeighborhoodAnderson Add
  • Zip87102
  • Style9 or More Units
  • Year Built1933
  • Taxes4738
  • Price$ 450,000
  • Bedrooms0
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage5738
  • Lot Size0.31 Acres
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Property Description

Located just north of the downtown skyline in the historic Wells Park neighborhood, this 12 unit apartment price reflects the overall condition and upside potential.Property contains small units that average $557 a month in rents. Measure of investment performance at the starting ask price of $450,000 include a GRM of 5.61, a 9.40% Cap rate (after reserves, 10.0% before), 14.80 Cash on cash, and a 20.70% after tax IRR.Recent appraisal was $572,000 - and recent comps indicate a value closer to $533,626, and if the average rent was increased to market of $729, that comparable sales price a 11.9% CAP rate.In short, this property is all upside.Co-Listed with Chuck Sheldon of T & C management.Property is being sold using BID Process

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
6/13/2018 Listed $450,000

General Features

Amenities Walled Complex
Builder Unknown
Construction Frame
Finance Considered Cash, Conventional
Number of Units 12.00
Rental Info Other - See Remarks
Stories 1.0
Subdivision Anderson Add
Tenant Pays Other - See Remarks
Zoning C-2

Interior Features

5+ Units Yes
Appliances Included Refrigerator
Basement No
Cooling Evaporative
Flooring See Remarks
Heating Gas, Wall Unit
Utilities All City

Exterior Features

Disability Access Unknown
Exterior Material Stucco

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 87102

Price
AVG $370K
$450K
Taxes
AVG $2,650
$4,738
Visits
AVG 74
6
Year Built
AVG 1933
1933

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