• MLS® #: 954152
  • 1116 Palomas Drive Se
  • Albuquerque, NM 87108
  • $300,000
  • 2757 SqFt, 0.19 Acres
  • Residential Income
  • Office: Nm Apartment Advisors, Inc.

NM Apartment Advisors is excited to bring to market two side by side owner occupant quality triplexes in a shared gated community. These 1950s vintage Albuquerque apartment units are located near the VA hospital and the planned Thunderbird development at 1112 & 1116 Palomas SE, 87108.This is a core asset with stabilized cash flow and recent renovations, with large two bedroom units with hardwood floors, built-in washer/dryer, and covered parking.For 1116 Palomas SE - the Measures of investment performance at ask price of $300,000 for the triplex and current average rent of $758 are a GRM of 10.99, a 6.60% cap rate, $100,000 per unit, and $108.81/sf. If rents are improved to market average of $842, the measure of investment performance improve to a cap rate of 7.50%

Essential Information

  • MLS® #954152
  • Price$300,000
  • Square Footage2,757
  • Acres0.19
  • Year Built1959
  • TypeResidential Income
  • Sub-TypeTriplex
  • StatusActive

Community Information

  • Address1116 Palomas Drive Se
  • Area71 - Southeast Heights
  • SubdivisionVirginia Place
  • CityAlbuquerque
  • CountyBernalillo
  • StateNM
  • Zip Code87108

Amenities

  • Parking Spaces4

Amenities

Laundry Equip. Owned, Walled Complex, Wshr/Dryr HU in Unit

Utilities

Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Interior

  • AppliancesRefrigerator
  • HeatingCentral Forced Air
  • CoolingEvaporative
  • # of Stories1
  • Stories1 Story

Exterior

  • ConstructionFrame

Additional Information

  • Date ListedSeptember 17th, 2019
  • Days on Market32
  • ZoningR-MH*
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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 20th, 2019 at 7:43am MDT.