Homes for sale - 7600 Central AVE SE, Albuquerque, NM 87108

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Amber Ortega

amber@findmynmhome.com +1(505) 550-9698

Listed by NAI SunVista Commercial RE

$ 1,425,000

Est. payment | -/mo

1 Bed

1 Bath

10,515 SqFt

Save

$ 1,425,000

Est. payment | -/mo

Save

1 Bed

1 Bath

10,515 SqFt

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

Making real estate fast, fun, and stress-free!

+1(505) 550-9698

amber@findmynmhome.com

11112 Snowbird Drive NW, Albuquerque, New Mexico, 87114, USA

7600 Central AVE SE Albuquerque, NM 87108