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1100 Palomas Drive SE - Main Image
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1100 Palomas Drive SE

Albuquerque, NM 87108

$963,138
2 bd • 1 ba • 7,720 sqft • 0.56 acres
1 Story
Stories
$125
Per SQFT
1955
Year Built
04/26/2023
Listing Date
1033316
Listing #
87108
Zip Code

About This Property

Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.

Interior

Bathrooms Total: 1
Appliances: Refrigerator
Flooring: Vinyl

Building And Construction

Property Type: Residential Income
Property Sub Type: Multi Family
Building Area Total: 7,720 sqft
Year Built: 1955
Construction Materials: Frame, Stucco
Levels: One
Number Of Units Total: 10
Stories: 1
Property Condition: Resale

Exterior And Lot

Lot Size Acres: 0.56
Lot Size Square Feet: 24393.6
Exterior Features: Landscaping

Provisional

MLS #: 1033316
Gross Income: 91850
Listing Terms: Cash, Conventional
Number Of Buildings: 3
Operating Expense: 38887
Tenant Pays: Other, See Remarks

Area And Schools

City: Albuquerque
Postal Code: 87108
MLS Area Major: Southeast Heights
Subdivision: Lots 1, 2 & 3 Block 12, Virginia Addition
County: Bernalillo
Parcel Number: 101805610818831610

Utilities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling: Central Air
Heating: Central, Forced Air
Heating (Y/N): Yes

Location

Directions: From I-40 and Gibson - east to San Mateo, north to Eastern, east to Palomas.

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Listing courtesy of NM Apartment Advisors, Inc.
Southwest MLS Logo 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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Daria Derebera Realtor

Daria Derebera

Real Estate Agent in Albuquerque, NM

(505) 521 8550

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