13101 Wenonah+ 13100, 220 Dorado Avenue SE, Albuquerque, NM 87123 (MLS# 869534) -

13101 Wenonah+ 13100, 220 Dorado Avenue SE, Albuquerque, NM 87123

$6,095,000

Property Type: Residential Income Square Footage: 88,965 Lot Size (sq. ft.): 241,566 Status: Closed

Current Price: $6,095,000 List Date: 6/27/2016 Last Modified: 1/31/2018

Overview

Description

Amazing property and rare opportunity to invest in a value add deal. – 14.63% cash on cash with new Freddie Mac – 10 year ownership – eligible for 4% renovation/rehab tax credits – 3 property portfolio allows for flexible exit strategy – Acquire well below replacement cost – Rents are 14% below submarket – Competing properties are charging for RUBs – Potential after tax IRR of 24.90% Property under contract for 13 months to buyer who intends to redevelop with affordable housing – call Listing Broker for info on comparable sale.

Listing Details MLS# 869534

Status Change Info

Pending Date: 2016-12-07
Closing Date: 2018-01-31

Contract Information

List Price/SqFt: 68.51
Allowance/Concession: No

Location

Street #: 13101
Street Name: Wenonah+ 13100, 220 Dorado
St Suffix: Avenue
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87123
Zip +4: 3868
MLS Area Major: 71 – Southeast Heights
Zone Atlas: L22

CityCounty Data

Subdivision Name: Fale Add & 2 others

General Property Description

# of Units: 120
5+ Units: Yes
Units for Sale: 120
Property Sub-Type: Multi-Family
Living Area: 88965
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 5.55
Lot SqFt: 241566
Directions: From I-40 and Tramway exit south on Tramway, past Central (Route 66), right on Wenonah, 3 portfolio property is located at 13100 Wenonah SE, 13101 Wenonah SE, and 220 Dorado SE. Do not Disturb management or residents.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 21
Year Built: 1980
Year Built Exception: Unknown
Age: 31 – 40
# Parking Spaces: 179
Disability Access: Unknown
LBP Disclosure: No
Builder: UNK
Owner Occupant Unit: No
Multiple Lots: Five

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 39
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 560
Actual Rent: 555
Max Rent: 554
Market Rent: 640

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 725
Actual Rent: 655
Max Rent: 655
Market Rent: 766

# of Unit Types (3)

# of Units: 48
# of Bedrooms: 2
# Baths: Yes
Style: South
Approx. SqFt: 830
Actual Rent: 678
Max Rent: 719
Market Rent: 766

# of Unit Types (4)

# of Units: 32
# of Bedrooms: 2
# Baths: Yes
Style: North
Approx. SqFt: 830
Actual Rent: 638
Max Rent: 830
Market Rent: 766

Unit Summary

Total Units: 120
Average Unit Size: 741.37
Average Actual Rent: 627.16
Annualized: 903120
Total Actual Rent: 75260

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 102205641432510403

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 34986

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Balconies/Deck: Yes
Fireplace Some Units: Yes
Laundry Community: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes
Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Sewer: Yes
Water: Yes
Other – See Remarks: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 884101
Operating Expenses: 409070

Appliances included

Built-In Gas Range: Yes
Dishwasher: Yes
Refrigerator: Yes

Utilities

All City: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other – See Remarks: Yes

Finance Considered

Cash: Yes
Conventional: Yes
FHA: Yes

Rental Info

Other – See Remarks: Yes

Source

Actual Record: Yes
Broker Provided: Yes
Owner Provided: Yes
Projection: Yes

Zoning

R-2: Yes

Property Features

Construction Materials: Frame; Stucco Amenities: Balconies/Deck; Fireplace Some Units; Laundry Community Appliances included: Built-In Gas Range; Dishwasher; Refrigerator Utilities: All City Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Vinyl Metering: Individual Electric; Individual Gas Operating Expenses: Other – See Remarks Owner Pays: Sewer; Water; Other – See Remarks Tenant Pays: Electric; Gas Rental Info: Other – See Remarks Finance Considered: Cash; Conventional; FHA Source: Actual Record; Broker Provided; Owner Provided; Projection Zoning: R-2

Documents

Flyer ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: January – 31 – 2018

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.