1021 Coal Avenue, Albuquerque, 87102

Beds
Baths
17,700Sqft
.66Acres
1986Built
161DOM

$2,120,000

Todd D Clarke
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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

Essential Information

MLS® #: 933862
Price: $2,120,000
Square Footage: 17,700
Acres: 0.66
Year Built: 1986
Type: Residential Income
Sub-Type: 9 or More Units
Status: Pending

Community Information

Address: 1021 Coal Avenue
Area: 80 - Downtown Area
Subdivision: Raynolds Add
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87102

Amenities

Amenities: Laundry Equip. Owned
Utilities: All City

Interior

Appliances: Refrigerator
Heating: Gas
Cooling: Evaporative
# of Stories: 2
Stories: 2 Story

Exterior

Construction: Frame

Additional Information

Date Listed: December 10th, 2018
Days on Market: 161
Zoning: MX-L*

Listing Details

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

Financials

$/SqFt: $120

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Listing information last updated on November 21st, 2019 at 11:28am MST.