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Listing 11 out of 1,936
$450,000 For Sale

1422 4th Street NW
Albuquerque, NM 87102

12 units | Multi Family Home
13504 sq ft - MLS# 921090
Property Photo
1/19

Description

Located just north of the downtown skyline in the historic Wells Park neighborhood, this 12 unit apartment price reflects the overall condition and upside potential.Property contains small units that average $557 a month in rents. Measure of investment performance at the starting ask price of $450,000 include a GRM of 5.61, a 9.40% Cap rate (after reserves, 10.0% before), 14.80 Cash on cash, and a 20.70% after tax IRR.Recent appraisal was $572,000 - and recent comps indicate a value closer to $533,626, and if the average rent was increased to market of $729, that comparable sales price a 11.9% CAP rate.In short, this property is all upside.Co-Listed with Chuck Sheldon of T & C management.Property is being sold using BID Process

DIRECTIONS: From Lomas & I25, West On Lomas To Fourth, North On Fourth To Property. Located On Sec Or Constitution And Fourth

Features

  • Property Type: Multi Family Home
  • Sub Type: 9 or More Units
  • Listing Status: Active
  • County/Area: Bernalillo County
  • Zip Code: 87102
  • Year Built: 1933
  • Age: 71 - 80
  • Subdivision/Neighborhood: Anderson Add
  • Sq.Ft.: 5,738 sq ft
  • Stories: 1
  • Units: 12 units
  • Lot Size: 13504 sq ft
  • Zoning: C-2
  • 5+ Units: Yes
  • Amenities: Walled Complex
  • Appliances included: Refrigerator
  • Construction: Frame
  • Cooling: Evaporative
  • Exterior Material: Stucco
  • Heating: Gas, Wall Unit
  • Lot SqFt: 13503.60
  • SqFt Source: Broker
  • Total # of Buildings: 2
  • Unit 1: 6, 1-Bed, 1-Bath
  • Unit 2: 6, 2-Bed, 1-Bath
  • Unit Summary: Annualized: 79920
  • Unit Summary: Average Actual Rent: 555
  • Unit Summary: Average Unit Size: 525
  • Unit Summary: Total Actual Rent: 6660
  • Unit Summary: Total Units: 12
  • Utilities: All City
Courtesy of Nm Apartment Advisors, Inc., Todd D Clarke, (505) 440-8633

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Doug Cowan

Doug Cowan

NMSL#16748
Cowan & Associates, Realtors®
Albuquerque, NM 87154

505-259-6983
Contact Me

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