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    5304 Summer Avenue NE

    Albuquerque, NM 87110
    • $450,000
    • STATUS: Active
    • ON SITE: 74 Days
    • MLS #: 998530
    UPDATED: 23 min ago
    $450,000
    • 2
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,700
      SQFT
    • $122
      $/SQFT
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    Property is under contract (PENDING) - contract allows owner to accept back up offers up until buyers contingencies are removed.This charming triplex is embedded in an area of mostly single-family homes. The property has (2) 3 bedroom, one bath apartment units, a 2 bedroom one bathroom unit and a garage. Measures of investment performance at ask price of $450,000 with a current average rent of $1,079 are a GRM of 12.30, a 5.35% cap rate before reserves, 5.35% cap rate after reserves (both include management - if you owner occupy, your cap rate could increase to 6.23%!), 15.40% after tax IRR, $150,000 per unit, and a price per sf of $121.62.If rents are raised to market of $1,300 the measures of investment performance improve to an investor cap rate of 7.03%

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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: 2021-10-23T14:04:52.353.
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    5304 Summer Avenue NE Albuquerque, NM 87110

    • Price: $450,000
    • Status: Active
    • Updated: 23 min ago
    • MLS #: 998530
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    3,700
    SQFT
    $122
    $/SQFT
    1949
    Built
    Neighborhood:
    Albuquerque Highlands Addition
    County:
    Bernalillo
    Area:
    70 - Fairgrounds
    Property Description
    Property is under contract (PENDING) - contract allows owner to accept back up offers up until buyers contingencies are removed.This charming triplex is embedded in an area of mostly single-family homes. The property has (2) 3 bedroom, one bath apartment units, a 2 bedroom one bathroom unit and a garage. Measures of investment performance at ask price of $450,000 with a current average rent of $1,079 are a GRM of 12.30, a 5.35% cap rate before reserves, 5.35% cap rate after reserves (both include management - if you owner occupy, your cap rate could increase to 6.23%!), 15.40% after tax IRR, $150,000 per unit, and a price per sf of $121.62.If rents are raised to market of $1,300 the measures of investment performance improve to an investor cap rate of 7.03%
    Exterior Features

    Construction Materials Frame 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 CarpetVinyl Heating CentralForced Air Heating YN Yes

    Property Features

    Accessibility Features None Additional Parcels YN Yes Builder Name Unknown Building Area Total 3700 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 36594 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 12498 Property Condition Resale Property Sub Type Triplex Property Sub Type Additional Triplex Tax Annual Amount 1880 Tenant Pays OtherSee Remarks Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description R-Mh*

    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: 2021-10-23T14:04:52.353.
     
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    The Shear Team | Realty ONE Group Concierge
    100 Sun Ave., NE. Suite 150
    Albuquerque NM, 87109