About 335 Espanola Street Ne
The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.
Features of 335 Espanola Street Ne
| MLS® # | 1044432 |
|---|---|
| Price | $875,997 |
| Bathrooms | 1.00 |
| Square Footage | 7,500 |
| Acres | 0.46 |
| Year Built | 1946 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 335 Espanola Street Ne |
|---|---|
| Area | 70 - Fairgrounds |
| Subdivision | La Mesa Addition |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Carpet, Wood |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air, Floor Furnace, Wall Furnace |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Construction | Block, Frame |
|---|
Additional Information
| Date Listed | November 7th, 2023 |
|---|---|
| Days on Market | 131 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|