• 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 $597 are a GRM of 10.20, a 6.59% cap rate, $73,103 per unit, $120/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
  • StatusActive

Community Information

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

Amenities

  • AmenitiesLaundry Equip. Owned
  • UtilitiesAll City

Interior

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

Exterior

  • ConstructionFrame

Additional Information

  • Date ListedDecember 10th, 2018
  • Days on Market151
  • ZoningMX-L*
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Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Listing information last updated on October 22nd, 2019 at 12:28pm MDT.