420 Columbia Drive Se, Albuquerque, 87106

2Beds
1Bath
3,765Sqft
.16Acres
1940Built
121DOM

$492,500

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The property is walking distance to UNM and CNM, and has good walk (75), bike (93), and transit (46) scores. (Did you know? Market trends demonstrate that high walk, bike or transit scores translates to 25% higher rents). The front houses have hardwood floors and speak to the quality workmanship of an 80 year old residence. The rear triplex are of newer construction, and contain two story townhouse style one bedroom units with decks that overlook the Sandia mountains. At the ask price of $500,000 and an average rent of $837 (up from $777 in 2018) the measure of investment performance include a GRM of 9.96, a CAP rate of 6.26%, a price per unit of $100,000, a price per square foot of $132.80 and an after-tax IRR of 14.30%.

Essential Information

MLS® #: 983152
Price: $492,500
Bedrooms: 2
Bathrooms: 1.00
Square Footage: 3,765
Acres: 0.16
Year Built: 1940
Type: Residential Income
Sub-Type: Multi Family
Status: Pending

Community Information

Address: 420 Columbia Drive Se
Area: 42 - UNM South
Subdivision: University Heights
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87106

Amenities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Cable Connected, Phone Connected

Interior

Interior: Wood
Appliances: Refrigerator
Heating: None
Cooling: None
# of Stories: 2
Stories: Two

Exterior

Construction: Frame

Additional Information

Date Listed: December 31st, 2020
Days on Market: 121

Listing Details

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

Financials

$/SqFt: $131

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Listing information last updated on May 11th, 2021 at 4:02pm MDT.