• MLS® #: 933862
  • 1021 Coal Avenue
  • Albuquerque, NM 87102
  • $2,120,000
  • 17700 SqFt, 0.66 Acres
  • Residential Income
  • Office: Nm Apartment Advisors, Inc.

Gated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,120,000 and current average rent of $615 are a GRM of 10.20, a 6.82% cap rate, $73,103 per unit, $104/sf. If rents are raised to market average of $856, measures of investment performance increase to a GRM of 7.12, and a 9.63% cap rate.Recent downtown rent survey on pages 8-12. Owners are currently renovating unit 28 with an anticipated market rent of $850.Note recent improvements - new roof is being installed, high speed property wide wi-fi internet, and three units undergoing upgrades and rent increases as we speak.Need to close quickly? - check out what this property has done: - recent i

Essential Information

  • MLS® #933862
  • Price$2,120,000
  • Square Footage17,700
  • Acres0.66
  • Year Built1986
  • TypeResidential Income
  • Sub-Type9 or More Units
  • StatusPending

Community Information

  • Address1021 Coal Avenue
  • Area80 - Downtown Area
  • SubdivisionRaynolds Add
  • CityAlbuquerque
  • CountyBernalillo
  • StateNM
  • Zip Code87102


  • AmenitiesLaundry Equip. Owned
  • UtilitiesAll City


  • AppliancesRefrigerator
  • HeatingGas
  • CoolingEvaporative
  • # of Stories2
  • Stories2 Story


  • ConstructionFrame

Additional Information

  • Date ListedDecember 10th, 2018
  • Days on Market162
  • ZoningMX-L*
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Listing information last updated on January 19th, 2020 at 8:13am MST.