1112 Palomas Drive Se, Albuquerque, 87108

2Beds
1Bath
2,757Sqft
.19Acres
1958Built
156DOM

$300,000

Todd D Clarke
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NM Apartment Advisors is excited to bring to market two side by side owner occupant quality triplexes in a shared gated community. These 1950s vintage Albuquerque apartment units are located near the VA hospital and the planned Thunderbird development at 1112 & 1116 Palomas SE, 87108.This is a core asset with stabilized cash flow and recent renovations, with large two bedroom units with hardwood floors, built-in washer/dryer, and covered parking.For 1112 Palomas SE - the Measures of investment performance at ask price of $300,000 for the triplex and current average rent of $780 are a GRM of 10.68, a 6.90% cap rate, $100,000 per unit, and $108.81/sf. If rents are improved to market average of $842, the measure of investment performance improve to a cap rate of 7.50%

Essential Information

MLS® #: 954151
Price: $300,000
Bedrooms: 2
Bathrooms: 1.00
Square Footage: 2,757
Acres: 0.19
Year Built: 1958
Type: Residential Income
Sub-Type: Triplex
Status: Active

Community Information

Address: 1112 Palomas Drive Se
Area: 71 - Southeast Heights
Subdivision: Lot 4, Block 12, Virginia Place Addition
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87108

Amenities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Interior

Interior: Tile, Wood
Appliances: Refrigerator
Heating: Forced Air
Cooling: Evaporative Cooling
# of Stories: 1
Stories: One

Exterior

Exterior Features: Privacy Wall
Construction: Frame

Additional Information

Date Listed: September 17th, 2019
Days on Market: 156

Listing Details

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

Financials

$/SqFt: $109

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Listing information last updated on April 3rd, 2020 at 4:01pm MDT.