7600 Central AVE SE Active Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87108
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,515 sqft
Price per Sqft $135
MLS Listing ID 1067286
Bedrooms 1
Construction Status Resale
HOA Y/N No
Year Built 1946
Annual Tax Amount $5,627
Lot Size 0.630 Acres
Acres 0.63
Lot Dimensions Survey
Property Description
The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*
Location
State NM
County Bernalillo
Area 71 - Southeast Heights
Interior
Heating Floor Furnace
Cooling Evaporative Cooling, Varies by Unit, Window Unit(s)
Flooring Laminate, Tile, Vinyl
Fireplace No
Appliance Cooktop,Microwave,Refrigerator,Range Hood
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101905716808030426
Security Features Security Gate
Acceptable Financing Cash,Conventional,FHA
Green/Energy Cert None
Listing Terms Cash,Conventional,FHA