715 Fruit Avenue, Albuquerque, 87102

2Beds
1Bath
Sqft
.18Acres
1916Built
496DOM

$425,000

Todd D Clarke
Please provide a valid email address.

Enhanced return due to increasing rents from $710, today they are at $785, representing a 10.56% increase.The property's is walking distance to the central business district and biking distance to downtown, old town and a couple dozen brew pubs, and specialty coffee shows. (Think of it as the epicenter for the three B's - bikes, brews, and beer).At the ask price of $425,000 and an average rent of $785 the measure of investment performance include a GRM of 11.28, a CAP rate of 5.23%, a price per unit of $106,250, a price per square foot of $159.77 a before tax IRR of 12.90%.If rents were raised to market of $833, the measure of investment performance improve to a cap rate of 6.36%.

Essential Information

MLS® #: 932029
Price: $425,000
Bedrooms: 2
Bathrooms: 1.00
Acres: 0.18
Year Built: 1916
Type: Residential Income
Sub-Type: Quadruplex
Status: Active

Community Information

Address: 715 Fruit Avenue
Area: 80 - Downtown Area
Subdivision: Armijo Bros Add
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87102

Amenities

Utilities: Municipal Utilities

Interior

Interior: Wood
Appliances: Refrigerator
Heating: Multiple Heating Units
Cooling: 2 Units
# of Stories: 1
Stories: One

Exterior

Construction: Frame

Additional Information

Date Listed: November 6th, 2018
Days on Market: 496

Listing Details

Listing Agent: Todd D Clarke
Listing Office: NM Apartment Advisors, Inc.

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Listing information last updated on May 24th, 2020 at 6:30pm MDT.