222 MAPLE Street NE, Albuquerque, NM 87106

$3,000,000
Property Type: Residential Income Square Footage: 30,849 Lot Size (sq. ft.): 50,384 Status: Closed
Current Price: $3,000,000 List Date: 9/28/2020 Last Modified: 1/01/2021

Overview

Description

This clean, gated, well-maintained complex is within walking distance to UNM and in the heart of ABQ, making these studio units easy to rent. In addition to the two three-story buildings, the site has sidewalks, patios, and paved open parking. Landscaping includes xeriscaping and trees and shrubs. Many of the units have been remodeled with vinyl plank flooring, ceramic tile bathrooms and an updated kitchenette area. Laundry facilities and an managers office are on site. Average unit rents are $550 giving this property a GRM of 5.83! The cap rate of 10.13% makes this investment property an easy decision to make.

Listing Details MLS# 978035

Status Change Info

Pending Date
2020-10-07
Closing Date
2020-12-31

Contract Information

List Price/SqFt
97.25

Location

Street #
222
Street Name
MAPLE
St Suffix
Street
Post Direction
NE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87106
Zip +4
4612
MLS Area Major
40 - UNM
Zone Atlas
K15

CityCounty Data

Subdivision Name
NA

General Property Description

# of Units
77
5+ Units
Yes
Property Sub-Type
Multi-Family
Living Area
30849
SqFt Source
Per Appraisal
Apx Lot Dim Front
450
Apx Lot Dim Side
250
Lot Size Source
Per Appraisal
Acres
1.16
Lot SqFt
50384
Directions
From University and Central, head West on Central to Maple St. Turn North (right) on Maple St to apartment complex on your right.
Stories
3
Total # of Buildings
2
Year Built
1979
Age
41 - 50
# Parking Spaces
110
Disability Access
Unknown
LBP Disclosure
No
Builder
unknown
Owner Occupant Unit
No
Multiple Lots
Three
Flood Zone
X

Basement

Basement
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
77
# Baths
Yes
Style
Studio
Approx. SqFt
400
Actual Rent
550
Max Rent
6600
Market Rent
575

Unit Summary

Total Units
77
Average Unit Size
400
Average Actual Rent
550
Annualized
508200
Total Actual Rent
42350

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101505730537611409

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
24259.35

Construction Materials

Block
Yes
Masonite
Yes

Amenities

Laundry Community
Yes
Laundry Equip Leased
Yes
Outside Lights
Yes
Some Landscaping
Yes

Cooling

Evaporative Cooling
Yes

Flooring

Tile
Yes
Vinyl
Yes

Heating

Electric
Yes
Perimeter/Baseboard
Yes

Owner Pays

Electric
Yes
Gas
Yes
Maintenance
Yes
Sewer
Yes
Trash Removal
Yes
Water
Yes

Tenant Pays

None
Yes

Income & Expenses

Annual Gross Income
469468
Operating Expenses
174433

Build Description

Resale
Yes

Appliances included

Free-Standing Electric Range
Yes
Refrigerator
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Electric Provider

Public Utility
Yes

Electric

None
Yes

Metering

All Master Metering
Yes

Operating Expenses

Accounting and Legal
Yes
Advertiseing
Yes
Insurance
Yes
Property Management
Yes
Property Taxes
Yes
Repairs/Maintenance
Yes
Utilities
Yes

Parking

1.5 Spaces Per Unit
Yes
Paved
Yes

Roof

Flat
Yes
TPO (G)
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Call Listing Broker
Yes
Rental History Avail
Yes

Source

Actual Record
Yes
Broker Provided
Yes
Owner Provided
Yes
Projection
Yes

Zoning

R-T*
Yes

Property Features

Construction Materials: Block; Masonite Build Description: Resale Amenities: Laundry Community; Laundry Equip Leased; Outside Lights; Some Landscaping Appliances included: Free-Standing Electric Range; Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Perimeter/Baseboard Cooling: Evaporative Cooling Flooring: Tile; Vinyl Electric Provider: Public Utility Electric: None Metering: All Master Metering Operating Expenses: Accounting and Legal; Advertiseing; Insurance; Property Management; Property Taxes; Repairs/Maintenance; Utilities Owner Pays: Electric; Gas; Maintenance; Sewer; Trash Removal; Water Tenant Pays: None Parking: 1.5 Spaces Per Unit; Paved Roof: Flat; TPO (G) Rental Info: Call Listing Broker; Rental History Avail Finance Considered: Cash; Conventional Source: Actual Record; Broker Provided; Owner Provided; Projection Zoning: R-T*
Listing Office: Lucky Dog Realty, LLC
Last Updated: January - 01 - 2021
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.

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