200 Rio Grande Boulevard SW, Albuquerque, NM 87104 (MLS# 821407)

Overview

Description

Tour - 4/9/2015 @ 4pm, Offer deadline 4/28/2015 @ 5pm Originally built by well known and admired custom home builder, HL Cleff, the property was destroyed by a fire in the mid 2000s. Purchased by local developer, John Mahoney who completed renovations in 2014, the property shines with quality upgrades from edge to edge. Currently in lease-up phase, the property is expected to offer a new investor full occupancy by this fall with an average rent of $1.18/sf or $1,198 per month. The property’s new condition, sub metered utilities and great location should all lead to an easier than average property to maintain.

Status Change Info

Pending Date: 2015-08-27
Closing Date: 2015-09-30

Contract Information

List Price/SqFt: 134.99

Location

Street #: 200
Street Name: Rio Grande
St Suffix: Boulevard
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87104
Zip +4: 1455
MLS Area Major: 80 - Downtown Area
Zone Atlas: J13

CityCounty Data

Subdivision Name: Shell 01

General Property Description

# of Units: 18
5+ Units: Yes
Units for Sale: 18
Property Sub-Type: Multi-Family
Living Area: 18150
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.71
Lot SqFt: 30928
Directions: From I-40 and & I-25 west on I-40 to Rio Grande Blvd, south past Mountain stop light, past Central stop light, property is on east side of street.
Stories: 2
Total # of Buildings: 2
Year Built: 1980
Age: 1 - 3
Disability Access: Yes
LBP Disclosure: No
Builder: HL Cleff / Mahoney
Owner Occupant Unit: Yes
Multiple Lots: One

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 17
# of Bedrooms: Yes
# Baths: Yes
Style: Townhouse
Approx. SqFt: 1000
Actual Rent: 1195
Max Rent: 1195
Market Rent: 1250

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: Townhouse
Approx. SqFt: 1150
Actual Rent: 1195
Max Rent: 1195
Market Rent: 1250

Unit Summary

Total Units: 18
Average Unit Size: 1008.33
Average Actual Rent: 1195
Annualized: 258120
Total Actual Rent: 21510

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101305810625031416

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 4652

Construction Materials

Adobe: Yes
Frame: Yes
Stucco: Yes

Amenities

Skylights: Yes

Cooling

Refrigerated: Yes

Flooring

Brick: Yes

Heating

Heat Pump: Yes

Owner Pays

Maintenance: Yes
Sewer: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Water: Yes

Income & Expenses

Annual Gross Income: 253401
Operating Expenses: 91361

Appliances included

Dishwasher: Yes
Dryer: Yes
Refrigerator: Yes
Washer: Yes

Utilities

All City: Yes

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes
Sub-Metering: Yes

Parking

1 Space Per Unit: Yes

Roof

Flat: Yes

Finance Considered

Conventional: Yes

Rental Info

Current Lse Agreemnt: Yes

Source

Broker Provided: Yes

Zoning

R-2: Yes

Property Features

Construction Materials: Adobe; Frame; Stucco Amenities: Skylights Appliances included: Dishwasher; Dryer; Refrigerator; Washer Utilities: All City Heating: Heat Pump Cooling: Refrigerated Flooring: Brick Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas; Sub-Metering Owner Pays: Maintenance; Sewer; Water Tenant Pays: Electric; Gas; Sewer; Water Parking: 1 Space Per Unit Roof: Flat Rental Info: Current Lse Agreemnt Finance Considered: Conventional Source: Broker Provided Zoning: R-2