1021 Coal Avenue, Albuquerque, 87102

Beds
Baths
17,700Sqft
.66Acres
1986Built
34DOM

$2,120,000

Todd D Clarke
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NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SWGated 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 $2,050,000 and current average rent of $543 are a GRM of 10.84, a 5.69% cap rate, $70,690 per unit, $116/sf.If rents are raised to market average of $870, measures of investment performance increase to a GRM of 6.69, and a 10.33% cap rate.Don't miss out - this was part of a larger portfolio that just sold and provides us with two recent comparable sales on the same street - all cash investors range between 5.6% cap rate, $70,690 per unit, $116/sf.If rents are raised

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: 34
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 June 17th, 2019 at 6:58pm MDT.