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321 Arizona Street SE

Albuquerque, NM 87108
  • $428,358
  • STATUS: Active
  • ON SITE: 348 Days
  • MLS #: 1002733
UPDATED: 79 min ago
$428,358
  • 1
    BEDS
  • 0.16
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 4,287
    SQFT
  • $100
    $/SQFT
Type:
Multi-Family
Built:
1949
County:

School Ratings & Info

Description

Recent reports have indicated 18% year over year rent growth in Albuquerque - and as we enter the fifth housing shortage in our city's history, this trend is likely to continue for many years to come.Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.At the ask price of $428,358 and an average rent of $708the measure of investment performance include a GRM of 8.41, a CAP rate of 7.57%.

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IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Buchman Group | Keller Williams Realty. Data last updated: 2022-09-25T22:04:52.027.
www.mynmdreamhome.com/homes/122287617
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321 Arizona Street SE Albuquerque, NM 87108

  • Price: $428,358
  • Status: Active
  • On Site: 348 Days
  • Updated: 79 min ago
  • MLS #: 1002733
1
Beds
1
Baths
0
½ Baths
0.16
Acres
4,287
SQFT
$100
$/SQFT
1949
Built
Neighborhood:
Lots 9 & 10, Block 9, Fairground Addition
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
Recent reports have indicated 18% year over year rent growth in Albuquerque - and as we enter the fifth housing shortage in our city's history, this trend is likely to continue for many years to come.Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.At the ask price of $428,358 and an average rent of $708the measure of investment performance include a GRM of 8.41, a CAP rate of 7.57%.
Exterior Features

Construction Materials Frame Exterior Features Landscaping Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring See Remarks Heating CentralForced Air Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 4287 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 44144 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 17118 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 3147 Tenant Pays OtherSee Remarks Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description Nr-C*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Buchman Group | Keller Williams Realty. Data last updated: 2022-09-25T22:04:52.027.
 
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The Buchman Group | Keller Williams Realty
6703 Academy Rd NE
Albuquerque NM, 87109