1021 Coal Avenue
Albuquerque, NM 87102

Description

NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SWGated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,050,000 and current average rent of $543 are a GRM of 10.84, a 5.69% cap rate, $70,690 per unit, $116/sf.If rents are raised to market average of $870, measures of investment performance increase to a GRM of 6.69, and a 10.33% cap rate.Don't miss out - this was part of a larger portfolio that just sold and provides us with two recent comparable sales on the same street - all cash investors range between 5.6% cap rate, $70,690 per unit, $116/sf.If rents are raised

Details

MLS#933862
Sub-TypeResale
StatusActive
Year1986
Days On Site220

Features

SQ Feet17,700
Units29
Building(s)6

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87102
Area80 - Downtown Area
Listing VS Median (in 87102)
Price:
$2,120,000
low | high
Med:
$260,000
100% of Average
SqFt:
17,700
low | high
Med:
1,841
100% of Average
$ / SqFt:
$120
low | high
Med:
$143
30.235209540696% of Average
On Site:
220
low | high
Med:
47
100% of Average
Listing Updated: 07/17/2019
MLS Number: 933862
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.
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