Chad Petty
Albuquerque, NM 87109
Phone: 505-307-9393
Email: chad@chadpetty.com

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Listing 19 out of 1,372
$2,120,000 For Sale

1021 Coal Avenue
Albuquerque, NM 87102

29 units | Multi Family Home
0.66 acres - MLS# 933862
Property Photo
1/40

Description

NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SWGated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,050,000 and current average rent of $543 are a GRM of 10.84, a 5.69% cap rate, $70,690 per unit, $116/sf.If rents are raised to market average of $870, measures of investment performance increase to a GRM of 6.69, and a 10.33% cap rate.Don't miss out - this was part of a larger portfolio that just sold and provides us with two recent comparable sales on the same street - all cash investors range between 5.6% cap rate, $70,690 per unit, $116/sf.If rents are raised

DIRECTIONS: From I-25 And Coal/Lead - West On Coal To 816, 1021 And 1116 Coal SW

Features

  • Property Type: Multi Family Home
  • Sub Type: 9 or More Units
  • Listing Status: Active
  • County/Area: Bernalillo County
  • Zip Code: 87102
  • Year Built: 1986
  • Age: 21 - 30
  • Subdivision/Neighborhood: Raynolds Add
  • Sq.Ft.: 17,700 sq ft
  • Stories: 2
  • Units: 29 units
  • Lot Size: 0.66 acres
  • Zoning: MX-L*
  • 5+ Units: Yes
  • Amenities: Laundry Equip. Owned
  • Appliances included: Refrigerator
  • Builder: Keith
  • Construction: Frame
  • Cooling: Evaporative Cooling
  • Exterior Material: Stucco
  • Flooring: Carpet, Vinyl
  • Heating: Gas
  • Lot SqFt: 28749.60
  • Total # of Buildings: 6
  • Unit 1: 1, 1-Bath
  • Unit 2: 26, 1-Bed, 1-Bath
  • Unit 3: 1, 2-Bed, 1-Bath
  • Unit 4: 1, 3-Bed, 2-Bath
  • Unit Summary: Annualized: 189120
  • Unit Summary: Average Actual Rent: 543.44
  • Unit Summary: Average Unit Size: 420.68
  • Unit Summary: Total Actual Rent: 15760
  • Unit Summary: Total Units: 29
  • Utilities: All City
Courtesy of Nm Apartment Advisors, Inc.


Chad Petty | 505-307-9393 | Contact Me
Serving Albuquerque, Roswell Ruidoso
5854 Osuna Rd NE - Albuquerque, NM 87109
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