2531 Candelaria Road NW, Albuquerque, NM 87107 (MLS# 1012942)


$3,400,000
2531 Candelaria Road NW
Albuquerque, NM 87107
MLS# 1012942
14520 sqft


2531 Candelaria Road NW, Albuquerque, NM 87107
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Property Description
The property is within walking distance to trailhead for Albuquerque's hundreds of miles of nature trails along North America's largest bosque forest which straddles either side of the Rio Grand River. Residents can explore the Rio Grande Nature Center State Park, or meet up with friends in historic charming Old Town. If you believe your residents dream morning consists of sipping tea / coffee while they listen to the geese and cranes honk as they pass over head along their migration patterns then this place is for you and them! Rents are on the rise in this property and so is the new price. With an average rent of $1,266 and an ask price of $3,400,000 the measure of investment performance for this property are a GRM of 13.16, cap rate before reserves of 5.42%, $200k.

Details
Maps
Documents
Contract Information
Listing Price: 3400000
Current Price: $3,400,000
List Price/SqFt: 234.16
On Market Date: 2022-04-20
Status: Active
Allowance/Concession: No
Bank Owned: No
Location
Street #: 2531
Street Name: Candelaria
St Suffix: Road
Post Direction: NW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 2962
Geo Lat: 35.126419
Geo Lon: -106.67685
Area: 101 - Near North Valley
Zone Atlas: G12
City/County Data
UPC Code: 101206045935710705
Subdivision: Alvarado Gardens
General Property Description
# of Units: 17
5+ Units: Yes
Units for Sale: 17
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 14520
Lot Size Source: On-Line
Acres: 0.6
Lot SqFt: 26136
Directions: From I-25 and Candelaria west past Rio Grande to the property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 4
Year Built: 1948
Age: 71 - 80
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 7131.34
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 248456
Operating Expenses: 89935
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 5
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 590
Actual Rent: 970
Max Rent: 1075
Market Rent: 1275
# of Unit Types (2)
# of Units: 11
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 950
Actual Rent: 1302
Max Rent: 1350
Market Rent: 1575
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 2
# Baths: 1.5
Approx. SqFt: 1000
Actual Rent: 1425
Max Rent: 1425
Market Rent: 1625
Unit Summary
Total Units: 17
Average Unit Size: 847.05
Average Actual Rent: 1211.58
Annualized: 247164
Total Actual Rent: 20597
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Brick; Vinyl
Electric Provider: Public Utility
Green Energy Electric: None
Metering: Other - See Remarks
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Flat; Pitched
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-ML*

Listing Office: NM Apartment Advisors, Inc.

Last Updated: October - 03 - 2022


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