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    321 Arizona Street SE

    Albuquerque, NM 87108
    • $425,000
    • STATUS: Active
    • ON SITE: 11 Days
    • MLS #: 1002733
    UPDATED: 22 min ago
    $425,000
    • 1
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,287
      SQFT
    • $99
      $/SQFT
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.If rents were to be raised to market of $729, the measures of investment performance improve to a GRM of 8.10, and a cap rate of 7.76% (before reserves).Do not wait - apartment investments are undergoing phenomenal appreciation and are on blazing path of rent growth due to the new Amazon, Netflix, Facebook and Intel employment announcements.

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    IDX information © 2021 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Shear Team | Realty ONE Group Concierge. Data last updated: 2021-10-23T12:04:53.153.
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    321 Arizona Street SE Albuquerque, NM 87108

    • Price: $425,000
    • Status: Active
    • Updated: 22 min ago
    • MLS #: 1002733
    1
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,287
    SQFT
    $99
    $/SQFT
    1949
    Built
    Neighborhood:
    Lots 9 & 10, Block 9, Fairground Addition
    County:
    Bernalillo
    Area:
    71 - Southeast Heights
    Property Description
    Located at 321-3 Arizona SE and directly north of the iconic castle apartment community these 6 units are well positioned to take advantage of the forthcoming rent growth in the market.At the ask price of $425,000 and an average rent of $649 the measure of investment performance include a GRM of 9.09, a CAP rate of 6.42% (before reserves), a price per unit of $70,833 price per square foot of $99.14 an after tax IRR of 24.10%.If rents were to be raised to market of $729, the measures of investment performance improve to a GRM of 8.10, and a cap rate of 7.76% (before reserves).Do not wait - apartment investments are undergoing phenomenal appreciation and are on blazing path of rent growth due to the new Amazon, Netflix, Facebook and Intel employment announcements.
    Exterior Features

    Construction Materials Frame Exterior Features Landscaping Levels Two Stories Total 2

    Interior Features

    Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring See Remarks Heating CentralForced Air Heating YN Yes

    Property Features

    Additional Parcels YN Yes Builder Name Unknown Building Area Total 4287 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 44144 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 17118 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 3147 Tenant Pays OtherSee Remarks Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description Nr-C*

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2021 Southwest Multiple Listing Service, Inc.


    IDX information © 2021 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Shear Team | Realty ONE Group Concierge. Data last updated: 2021-10-23T12:04:53.153.
     
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    The Shear Team | Realty ONE Group Concierge
    100 Sun Ave., NE. Suite 150
    Albuquerque NM, 87109