$650,000

501 Texas Street NE

Albuquerque NM, 87108

Description

Fantastic price on this 10 plex. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a 7.7% cap rate without the cash demand of updating. All of the units have been remodeled, which includes laminate and tile floors. Appliances are new, bathrooms are updated along with lighting, paint, doors, window coverings. Other updates include new evaporative coolers, many new hot water heaters, laundry room with coin-operated dryers and washers and surveillance, fire escapes for 2nd story units, recent roof, resurfaced parking lot and wrought iron security fence and gate. There is also plenty of room in the back of lot to add storage units for additional income. Most tenants are long-term. Hard to find a multi-plex like this one.

Details

MLS#979853
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1974
Days On Site83

Features

Bed(s)1
Bath(s)1
SQ Feet5,868
Story(s)2
Acreage0.29
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Area Information
StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87108
Area70 - Fairgrounds
Community NameMesa Verde Addition
Listing VS Median (in Mesa Verde Addition)
Price:
$650,000
low | high
Med:
$299,000
100% of Average
SqFt:
5,868
low | high
Med:
3,025
98.449216087253% of Average
$ / SqFt:
$111
low | high
Med:
$99
60.767603305785% of Average
On Site:
83
low | high
Med:
18
100% of Average
Listing Updated: December 11, 2020 3:13:09 PM PST
Dave W Slade LogoMLS Number: 979853
Listing Provided By:
Dave W Slade  of  Dave Slade Associates LLC
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Greater Albuquerque Association of REALTORS®.
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