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609 5th Street SW

Albuquerque, NM 87102
  • $284,999
  • STATUS: Active
  • ON SITE: 277 Days
  • MLS #: 1006361
UPDATED: 18 min ago
$284,999
  • 1
    BEDS
  • 0.16
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 924
    SQFT
  • $308
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1946
County:

School Ratings & Info

Description

The property has a street address of 609 5th SW and is on a corner lot with about 15 extra parking spaces.Measures of investment performance at ask price of $284,999 with a current average rent of $717 (a 30% increase over the former $550 rents) are a GRM of 11.63, a 5.47% cap rate before reserves, 5.23% cap rate after reserves, 17.50% before tax IRR, $95,000 per unit, and a price per sf of $308.44.If all of the unit rents are raised to the market of $875, the measure of investment performance improve to a cap rate of 6.68%, if the extra parking is leased at $50 a space a month, the cap rate increases to well over 10%! Buyer to confirm parking lot and/or extra unit potential with the City of ABQ for permissible uses.

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IDX information © 2022 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 NM Homies | Realty One of New Mexico. Data last updated: 2022-09-27T23:05:16.01.
www.nmhomies.com/homes/124275363
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609 5th Street SW Albuquerque, NM 87102

  • Price: $284,999
  • Status: Active
  • On Site: 277 Days
  • Updated: 18 min ago
  • MLS #: 1006361
1
Beds
1
Baths
0
½ Baths
0.16
Acres
924
SQFT
$308
$/SQFT
1946
Built
Neighborhood:
Atlantic & Pacific
County:
Bernalillo
Area:
80 - Downtown Area
Property Description
The property has a street address of 609 5th SW and is on a corner lot with about 15 extra parking spaces.Measures of investment performance at ask price of $284,999 with a current average rent of $717 (a 30% increase over the former $550 rents) are a GRM of 11.63, a 5.47% cap rate before reserves, 5.23% cap rate after reserves, 17.50% before tax IRR, $95,000 per unit, and a price per sf of $308.44.If all of the unit rents are raised to the market of $875, the measure of investment performance improve to a cap rate of 6.68%, if the extra parking is leased at $50 a space a month, the cap rate increases to well over 10%! Buyer to confirm parking lot and/or extra unit potential with the City of ABQ for permissible uses.
Exterior Features

Construction Materials Frame Levels One Stories Total 1

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring Vinyl Heating Wall Furnace Heating YN Yes

Property Features

Accessibility Features None Additional Parcels YN Yes Builder Name Unknown Building Area Total 924 Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 18810 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 8989 Property Condition Resale Property Sub Type Triplex Property Sub Type Additional Triplex Tax Annual Amount 1264.54 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer Connected Zoning Description R-1A*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 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 NM Homies | Realty One of New Mexico. Data last updated: 2022-09-27T23:05:16.01.
 
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NM Homies | Realty One of New Mexico
7441 Alameda Blvd. NE
Albuquerque NM, 87113