$2,120,000

1021 Coal Avenue

Albuquerque NM, 87102

Description

Gated 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 $2,120,000 and current average rent of $597 are a GRM of 10.20, a 6.59% cap rate, $73,103 per unit, $120/sf. If rents are raised to market average of $856, measures of investment performance increase to a GRM of 7.12, and a 9.63% cap rate.Recent downtown rent survey on pages 8-12. Owners are currently renovating unit 28 with an anticipated market rent of $850.Note recent improvements - new roof is being installed, high speed property wide wi-fi internet, and three units undergoing upgrades and rent increases as we speak.Need to close quickly? - check out what this property has done: - recent i

Details

MLS#933862
Sub-TypeResale
StatusActive
Year1986
Days On Site284

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:
$250,000
100% of Average
SqFt:
17,700
low | high
Med:
2,016
100% of Average
$ / SqFt:
$120
low | high
Med:
$124
46.465071877807% of Average
On Site:
284
low | high
Med:
218
100% of Average
Listing Updated: 09/20/2019
MLS Number: 933862
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.
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