503 7th Street SW, Albuquerque, NM 87102 (MLS# 1044359)

Overview

Description

Don't miss out on this turn-key investment opportunity to own a residential income property convenient located in the heart of downtown, within a short distance of Tingley Beach, BioPark, Old Town and Nob Hill with a wide array of great restaurant options, shopping, groceries and entertainment. This property features five charming bright units (2-1 Bedrooms) that have been renovated throughout the years with premium flooring, neutral color palette throughout, providing a comfortable and inviting living space for tenants. Beautiful low maintenance landscaping complimented by well-maintain common area gardens, creating a lush and private community atmosphere. Plenty of street parking and a large back & side yards for tenants to use. This property also offers a free common laundry.

Status Change Info

Pending Date: 2024-04-24
Closing Date: 2024-06-18

Contract Information

List Price/SqFt: 241.08

Location

Street #: 503
Street Name: 7th
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 3809
MLS Area Major: 80 - Downtown Area
Zone Atlas: K14

General Property Description

# of Units: 5
5+ Units: Yes
Property Sub-Type: Multi-Family
Living Area: 3729
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6316
Directions: Head west on Lead Ave from I-25. Turn left on 8th street and an immediate next left on Coal Ave. The property is on the right.
Stories: Yes
Total # of Buildings: 2
Year Built: 1926
Age: 81 - 99
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 3
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 600
Actual Rent: 2085
Max Rent: 2085
Market Rent: 2085

# of Unit Types (2)

# of Units: 2
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 450
Actual Rent: 1700
Max Rent: 1700
Market Rent: 1700

Unit Summary

Total Units: 5
Average Unit Size: 540
Average Actual Rent: 1931
Annualized: 115860
Total Actual Rent: 9655

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101405703229520109

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 8816.04

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Enclosed Yard: Yes
Laundry Community: Yes
Some Landscaping: Yes

Cooling

Central Air: Yes
Ductless: Yes

Flooring

Laminate: Yes

Heating

Central: Yes
Ductless: Yes
Forced Air: Yes
Wall Unit: Yes

Owner Pays

Some Utilities: Yes

Tenant Pays

Some Utilities: Yes

Income & Expenses

Annual Gross Income: 100620
Operating Expenses: 31178

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Private: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes
Laundry Separate: Yes

Roof

Flat: Yes
TPO (G): Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Call Listing Broker: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Enclosed Yard; Laundry Community; Some Landscaping Appliances included: Refrigerator Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Central; Ductless; Forced Air; Wall Unit Cooling: Central Air; Ductless Flooring: Laminate Green Energy Generation: None Electric Provider: Private Metering: Individual Electric; Individual Gas; Laundry Separate Owner Pays: Some Utilities Tenant Pays: Some Utilities Roof: Flat; TPO (G) Rental Info: Call Listing Broker Finance Considered: Cash; Conventional Zoning: R-MH*