501 Pennsylvania SE, Albuquerque, NM 87108 (MLS# 880005)

501 Pennsylvania SE, Albuquerque, NM 87108

$795,000

Property Type: Residential Income Lot Size (sq. ft.): 49,650 Status: Closed

Current Price: $795,000 List Date: 11/28/2016 Last Modified: 8/16/2017

Overview

Description

On behalf of the owner, NM Apartment Advisors Inc., is pleased to present this opportunity for a seller financed, 21 unit apartment located in Albuquerque, New Mexico. One of the four buildings is in like new condition as the building owner has spent over $300,000 renovating 505 Pennsylvania after a fire. Seller is willing to offer seller financing with a minimum down payment of 20% (balance of terms depend on price) if it will facilitate a 2016 closing. Utilities: Each building has gas heating and gas water heaters that are on master meters (except building 501 which is separately metered), and is separately metered for electric. The landlord offers all units (except 2 bedrooms) with utilities paid, keeping a high occupancy. Tour 12/14/2016 at noon, Offer deadline 5pm, 12/15/20

Listing Details MLS# 880005

Status Change Info

Pending Date: 2017-01-29
Closing Date: 2017-03-10

Contract Information

Allowance/Concession: No

Location

Street #: 501
Street Name: Pennsylvania
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
MLS Area Major: 71 - Southeast Heights
Zone Atlas: L19

CityCounty Data

Subdivision Name: Emil Mann

General Property Description

# of Units: 21
5+ Units: Yes
Property Sub-Type: Multi-Family
Lot Size Source: On-Line
Acres: 1.14
Lot SqFt: 49650
Directions: From I-40 and Louisiana, South to Zuni, east to Pennsylvania, south to property - just north of Phil Chacon Park/substation.
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: 4
Year Built: 1963
Age: 41 - 50
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Five

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 8
# Baths: Yes
Style: Studio
Approx. SqFt: 525
Actual Rent: 476
Max Rent: 500
Market Rent: 537

# of Unit Types (2)

# of Units: 9
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 551
Max Rent: 650
Market Rent: 647

# of Unit Types (3)

# of Units: 4
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 750
Actual Rent: 643
Max Rent: 700
Market Rent: 671

Unit Summary

Total Units: 21
Average Unit Size: 621.42
Average Actual Rent: 539.95
Annualized: 136068
Total Actual Rent: 11339

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101905626539120910

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 7316

Construction Materials

Block: Yes
Brick Veneer: Yes

Amenities

Laundry Community: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Tile: Yes
Vinyl: Yes

Heating

Gas: Yes

Owner Pays

Some Utilities: Yes

Tenant Pays

Other - See Remarks: Yes

Appliances included

Refrigerator: Yes

Utilities

All City: Yes

Finance Considered

Cash: Yes
Owner Financing: Yes

Rental Info

Call Listing Broker: Yes

Zoning

R-2: Yes

Property Features

Construction Materials: Block; Brick Veneer Amenities: Laundry Community Appliances included: Refrigerator Utilities: All City Heating: Gas Cooling: Evaporative Cooling Flooring: Tile; Vinyl Owner Pays: Some Utilities Tenant Pays: Other - See Remarks Rental Info: Call Listing Broker Finance Considered: Cash; Owner Financing Zoning: R-2

Documents

Lead Based Paint ›

APOD ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: August - 16 - 2017

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.