Skip To Content

1100 Palomas Drive SE

Albuquerque, NM 87108
  • $925,488
  • STATUS: Active
  • ON SITE: 44 Days
  • MLS #: 1033316
UPDATED: 46 min ago
$925,488
  • 2
    BEDS
  • 0.56
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 7,720
    SQFT
  • $120
    $/SQFT
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away

Monthly Payment Calculator



IDX information © 2023 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 Keller Williams Realty. Data last updated: 2023-06-10T13:05:25.03.
www.albuquerquehomefinders.com/homes/138908091
Print Image

1100 Palomas Drive SE Albuquerque, NM 87108

  • Price: $925,488
  • Status: Active
  • On Site: 44 Days
  • Updated: 46 min ago
  • MLS #: 1033316
2
Beds
1
Baths
0
½ Baths
0.56
Acres
7,720
SQFT
$120
$/SQFT
1955
Built
Neighborhood:
Lots 1, 2 & 3 Block 12, Virginia Addition
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away
Exterior Features

Construction Materials Frame Exterior Features Landscaping Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Cooling Centralair Cooling YN Yes Electric None Flooring Vinyl Heating CentralForcedair Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 7720 Gross Income 91850 Listing Agreement Exclusiverighttosell Listing Terms CashConventional New Construction YN No Operating Expense 38887 Property Condition Resale Property Sub Type Multifamily Tax Annual Amount 5586.84 Tenant Pays OtherSeeremarks Utilities ElectricityconnectedNaturalgasconnectedSewerconnectedWaterconnected Zoning Description R-Mh*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2023 Southwest Multiple Listing Service, Inc.


IDX information © 2023 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 Keller Williams Realty. Data last updated: 2023-06-10T13:05:25.03.
 
https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1033316-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1033316-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1033316-2.jpg
Logo
Keller Williams Realty
6703 Academy Road NE
Albuquerque NM, 87109