This property contains 4 x 2 bedroom, 1 bathroom units and 2 x 1 bedroom, 1 bathroom units. The owner has done an amazing job in renovations and the property shows well (check out the virtual tour below)/.Priced below market comparables at $503,7506 and at the list price of $457,332 with an average rent of $638, measures of investment performance include a GRM of 9.96, a before reserves cap rate of 6.63% and an after-tax Internal Rate of Return (IRR) of 18.60%. If rents are raised to the market average of $838, measure of investment performance improve to a cap rate of 9.32% and a cash on cash of 16.65%.
- Price:
- $457,232
- Bedrooms:
- 2
- Square Footage:
- 4,136
- Acreage:
- 0.17
- Year Built:
- 1980
- Listing ID #:
- 1023491
- Street Address:
- 121 General Arnold St NE
- City:
- Albuquerque
- State:
- New Mexico
- Postal Code:
- 87123
- County:
- Bernalillo
- Community:
- 50 - Northeast Heights
- Subdivision:
- Waggonman Denision Addition
- Listing Status:
- Active
- Listing Type:
- Residential Income
- Approximate Total Liveable Area:
- 4136
- Building Condition:
- Resale
- Construction Description:
- Frame
- Flooring:
- Carpet, Tile
- Number Of Floors In Unit:
- Two
- Number Of Units:
- 6
- Stories:
- 2
- Stories:
- 2
- Total # Of Buildings:
- 1
- Total Building Square Footage:
- 4136
- Year Built:
- 1980
- Year Built Description:
- 31 - 40
- Gross Income:
- 40071
- Operating Expense:
- 21481
- Approximate Lot Size Range Source:
- Public Records
- Lot Square Footage:
- 7405.2
- Zoning Description:
- Mx-M*
- Days On Market:
- 176
- On Market Date:
- 2022-09-29
- Originating Mls:
- Swmls
- Property Disclosures:
- Ranm2100disclosure
- Terms:
- Cash, Conventional
- Property Taxes:
- $2,582
- Tenant Pays:
- Other, See Remarks
- Appliances:
- Refrigerator
- Cooling System:
- Evaporative Cooling
- Has Central Air Conditioning:
- Yes
- Heating:
- Central, Forced Air
- Utilities:
- Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
- Unit 1 Description:
- F
- Unit 1 Monthly Rent:
- 700
- Unit 1 Total Bathrooms:
- 1
- Unit 1 Total Bedrooms:
- 2
- Unit 2 Description:
- E
- Unit 2 Monthly Rent:
- 475
- Unit 2 Total Bathrooms:
- 1
- Unit 2 Total Bedrooms:
- 1
- Unit 3 Description:
- D
- Unit 3 Monthly Rent:
- 700
- Unit 3 Total Bathrooms:
- 1
- Unit 3 Total Bedrooms:
- 2
- Unit 4 Description:
- B
- Unit 4 Monthly Rent:
- 500
- Unit 4 Total Bathrooms:
- 1
- Unit 4 Total Bedrooms:
- 1
- Unit 5 Description:
- C
- Unit 5 Monthly Rent:
- 700
- Unit 5 Total Bathrooms:
- 1
- Unit 5 Total Bedrooms:
- 2
- Unit 6 Description:
- A
- Unit 6 Monthly Rent:
- 750
- Unit 6 Total Bathrooms:
- 1
- Unit 6 Total Bedrooms:
- 2
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By: Todd D Clarke with NM Apartment Advisors
