1027 Truman Street SE, Albuquerque, NM 87108 (MLS# 1065668) -

1027 Truman Street SE, Albuquerque, NM 87108

$923,759

Property Type: Residential Income Square Footage: 5,500 Lot Size (sq. ft.): 13,068 Status: Closed

Current Price: $923,759 List Date: 6/23/2024 Last Modified: 2/02/2025

Overview

Description

On behalf of the owner, NM Apartment Advisors and Deacon Property Services are thrilled to bring to market this mid-century modern gem of a 10 unit apartment complex. Excellent Ridgecrest location: pride of ownership block right off Ridgecrest Ave. and Kathryn Ave. Close to UNM, CNM, Kirtland Air Force Base, the Sunport, and Nob Hill. This property is positioned to reap the benefits of one Albuquerque’s largest and most concentrated revitalizations and in

Supplements: Nearly all essential val- ue-add work is complete at the property, yet rents are 25% to 30% under market (as is). All units feature excellent / pragmatic floor plans complimented by well-preserved mid-century modern

Listing Details MLS# 1065668

Status Change Info

Pending Date: 2024-12-07
Closing Date: 2025-01-31

Contract Information

List Price/SqFt: 167.96

Location

Street #: 1027
Street Name: Truman
St Suffix: Street
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 3565
MLS Area Major: 42 – UNM South
Zone Atlas: L17

CityCounty Data

Subdivision Name: San Mateo Heights

General Property Description

# of Units: 10
5+ Units: Yes
Units for Sale: 10
Property Sub-Type: Multi-Family
Living Area: 5500
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.3
Lot SqFt: 13068
Directions: From I-40 and Gibson, east on Gibson, past the new Max-Q development to San Mateo, north to Kathryn, west to Truman, south to property.
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: Yes
Year Built: 1955
Age: Select One
Accessory Dwelling Unit: No
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Two
Flood Zone: A

Cooling

Centrally Ducted: No
Evaporative Cooling: Yes

More Information

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 10
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 550
Actual Rent: 769
Max Rent: 775
Market Rent: 985

Unit Summary

Total Units: 10
Average Unit Size: 550
Average Actual Rent: 769
Annualized: 92280
Total Actual Rent: 7690

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101705649929010704

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 3583.96

Construction Materials

Block: Yes
Frame: Yes
Stucco: Yes

Amenities

Some Landscaping: Yes

Flooring

Tile: Yes
Vinyl: Yes
Wood: Yes

Heating

Wall Unit: Yes

Owner Pays

Other – See Remarks: Yes

Tenant Pays

Other – See Remarks: Yes

Income & Expenses

Annual Gross Income: 87609
Operating Expenses: 31335

Build Description

Resale: Yes

Appliances included

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

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other – See Remarks: Yes

Parking

Unpaved: Yes

Roof

Flat: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other – See Remarks: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Block; Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Tile; Vinyl; Wood Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Other – See Remarks Owner Pays: Other – See Remarks Tenant Pays: Other – See Remarks Parking: Unpaved Roof: Flat Rental Info: Other – See Remarks Finance Considered: Cash; Conventional Zoning: R-MH*

Documents

Flyer & APOD ›

Lead Based Paint ›

Tax Levy Disclosure ›

Tax Levy 2 ›

LO SO Letter to Buyers, Buyers Broker ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: February – 02 – 2025

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