8101 Marble Avenue NE, Albuquerque, NM 87110 (MLS# 1044190)

Overview

Description

Cap Rate: 6.08%; Year 2-3 Pro Forma Cap Rate: 8.60%; GRM: 9.97; Year 2-3 Pro Forma GRM: 8.39; Year 2-3 Projected Cash-on-Cash Return: 9.32% to 16.91% *65 LTV 7.15% Fixed Loan & 80 LTV Affordable 4.85% Loan, respectively. Building Age: 1977. Property Highlights: • Marble's Renovated Units Lease 31.12% Higher than those Not Renovated. • Projected Year 2-3 Gross Income Growth: 18.96%. • Substantial Capital Improvements 2018-2023. • Excellent Unit Mix: 50% 1 BR-1 BA, 50% 2 BR-1 BA. • Situated in a Well-Maintained Office Corridor. • Projected Year 5 Value Appreciation @ 6.5% Cap Rate: 37.63%. • Decommissioned Shared-Laundry Facility. • In-Place Utility Reimbursement (RUBS).

Status Change Info

Pending Date: 2023-11-14
Closing Date: 2024-04-02

Contract Information

List Price/SqFt: 143.25

Location

Street #: 8101
Street Name: Marble
St Suffix: Avenue
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87110
MLS Area Major: 70 - Fairgrounds
Zone Atlas: J19

General Property Description

# of Units: 16
5+ Units: Yes
Units for Sale: Yes
Property Sub-Type: Multi-Family
Living Area: 11169
SqFt Source: Professional
Lot Size Source: Survey
Acres: 0.65
Lot SqFt: 28314
Directions: Head west on Lomas Blvd NE. Turn left onto Pennsylvania St NE. Go for 492 ft. Then, turn right onto Marble Ave NE. Go for 0.2 mi. The ''subject'' property is situated on the northwest corner of Texas Street NE and Marble Ave NE.
Stories: 2
Total # of Buildings: Yes
Year Built: 1977
Age: 41 - 50
# Parking Spaces: 24
Disability Access: Yes
LBP Disclosure: No
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: 8
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 784
Actual Rent: 88986
Max Rent: 1144
Market Rent: 1025

# of Unit Types (2)

# of Units: 8
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 627
Actual Rent: 772
Max Rent: 895
Market Rent: 925

Unit Summary

Total Units: 16
Average Unit Size: 705.5
Average Actual Rent: 44879
Annualized: 8616768
Total Actual Rent: 718064

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: Not Available

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 7749

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Some Landscaping: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Tile: Yes
Vinyl: Yes

Heating

Floor Furnace: Yes

Owner Pays

Gas: Yes
Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Other - See Remarks: Yes

Build Description

Resale: Yes

Appliances included

Fan/Hood: Yes
Refrigerator: Yes

Utilities

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

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Electric

Other: Yes

Metering

Individual Electric: Yes
Master Gas: Yes

Parking

1.5 Spaces Per Unit: Yes

Roof

TPO (G): Yes

Finance Considered

Cash: Yes
Conventional: Yes
FHA: Yes
Joint Venture: Yes
VA: Yes

Rental Info

Other - See Remarks: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Fan/Hood; Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Floor Furnace Cooling: Evaporative Cooling Flooring: Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Electric: Other Metering: Individual Electric; Master Gas Owner Pays: Gas; Sewer; Trash Removal; Water Tenant Pays: Electric; Other - See Remarks Parking: 1.5 Spaces Per Unit Roof: TPO (G) Rental Info: Other - See Remarks Finance Considered: Cash; Conventional; FHA; Joint Venture; VA Zoning: R-MH*