Listing Courtesy of: Todd Clarke - NM Apartment Advisors, Inc.
505-440-8633
$963,138
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1100 Palomas Drive Albuquerque, NM 87108
Multi-Family
Residence
2
Beds
1
Baths
...
Bed/Bath
7,720
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of ...8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.
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MLS#
1033316
Property Type
Multi-Family
Bedrooms
2
Bathrooms
Year Built
1955
Square Feet
7,720
sq. ft
Lot Size
0.56
Sewer
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