715 Fruit Avenue, Albuquerque, 87102

Beds
Baths
Sqft
.18Acres
1916Built
277DOM

$385,500

Todd D Clarke
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The underlying fundamentals for apartment investments continue to improve, as evidenced by the recent rent increases in this owner occupant style fourplex in Downtown Albuquerque with a high walk (88), bike (71), and transit (57) scores.Located at 715 Fruit NW, and offered at the same price, but with an enhanced return due to increasing rents from $710, today they are at $761, representing a 7.18% increase in 4 months.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 $385,500 and an average rent of $761 the measure of investment performance include a GRM of 10.55, a CAP

Essential Information

MLS® #: 932029
Price: $385,500
Acres: 0.18
Year Built: 1916
Type: Residential Income
Sub-Type: Four Plex
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

Amenities: Owners Unit
Utilities: All City

Interior

Appliances: Refrigerator
Heating: 2+ Units
Cooling: 2+Units
# of Stories: 1
Stories: 1 Story

Exterior

Construction: Frame

Additional Information

Date Listed: November 6th, 2018
Days on Market: 277
Zoning: R-ML*

Listing Details

Listing Agent: Todd Clarke
Listing Office: NM Apartment Advisors, Inc.
Office Phone: (505) 440-8633

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Listing information last updated on September 16th, 2019 at 9:58pm MDT.