Address
609 5th Street SW Albuquerque, NM
Price
$ 350,000
Property Attributes
  • MLS#1006361
  • TypeMulti-Family
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaDowntown Area
  • NeighborhoodAtlantic & Pacific
  • Zip87102
  • StyleTriplex
  • Year Built1946
  • Taxes$ 1265
  • Price$ 350,000
  • Bedrooms1
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage924
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Data Source:
Southwest MLS (SWMLS)
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 $350,000 with a current average rent of $550 are a GRM of 18.61, a 3.00% cap rate before reserves, 2.81% cap rate after reserves, 8.80% after tax IRR, $116,667 per unit, and a price per sf of $378.79..If all of the unit rents are raised to the market of $795, the measure of investment performance improve to a cap rate of 4.58%, and that still leaves a large undeveloped downtown lot that might be used for parking or to develop additional units (please check with the City of ABQ for permissible uses).Disclosure: Co-listing broker Paul Chavez and owner are related.

Price History
12/23/2021 Listed $350,000

General Features

Accessibility None
Additional Parcels Y/N Yes
Appliances Refrigerator
Co-Listing Agent State License # 17203
Construction Materials Frame
Cooling Evaporative Cooling
Electric None
Flooring Vinyl
Heating Wall Furnace
Levels One
Listing Agent State License 13711
Lot Size Square Feet 6970
MLS Area 80 - Downtown Area
Property Sub Type Additional Triplex
Property SubType Triplex
Property Type Residential Income
PropertyCondition Resale
Status Active
Stories 1
Subdivision Name Atlantic & Pacific
Terms Cash, Conventional, FHA
Total Units 3
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected
Zoning Description R-1A*

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes
Living Area 924
Total Baths 1
Total Bedrooms 1

Exterior Features

Lot Size Acres 0.16
Lot Size Source Public Records
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 87102

Price
AVG $930K
$350K
Taxes
AVG $2,643
$1,265
Visits
AVG 71
92
Year Built
AVG 1925
1946
Walkscore
AVG 85
85
Data Provided by Walkscore ® not using MLS data

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