Address
5304 Summer Avenue NE Albuquerque, NM
Price
$ 450,000
Property Attributes
  • MLS#998530
  • TypePending
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaFairgrounds
  • NeighborhoodAlbuquerque Highlands Addition
  • Zip87110
  • StyleTriplex
  • Year Built1949
  • Taxes$ 1880
  • Price$ 450,000
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage3700
  • Lot Size8,712 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Data Source:
Southwest MLS (SWMLS) - 101 - NM
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%

Price History
8/9/2021 Listed $450,000

General Features

Accessibility None
Additional Parcels Y/N Yes
Appliances Refrigerator
Construction Materials Frame
Cooling Evaporative Cooling
Electric None
Flooring Carpet, Vinyl
Heating Central, Forced Air
Levels Two
Listing Agent State License 13711
Lot Size Square Feet 8712
MLS Area 70 - Fairgrounds
Property Sub Type Additional Triplex
Property SubType Triplex
Property Type Residential Income
PropertyCondition Resale
Status Pending
Stories 2
Subdivision Name Albuquerque Highlands Addition
Terms Cash, FHA, VA Loan
Total Units 3
Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Zoning Description R-MH*

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes
Living Area 3700
Total Baths 1
Total Bedrooms 2

Exterior Features

Lot Size Acres 0.2
Lot Size Source Public Records
Number of Buildings 2

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 Pending Average in 87110

Price
AVG $270K
$450K
Taxes
AVG $2,340
$1,880
Visits
AVG 36
53
Year Built
AVG 1958
1949
Walkscore
AVG 62
72
Data Provided by Walkscore ® not using MLS data

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