501 Girard (503 & 505 ) Boulevard SE, Albuquerque, NM 87106 (MLS# 1014948) -

501 Girard (503 & 505 ) Boulevard SE, Albuquerque, NM 87106

$2,000,000

Property Type: Residential Income Square Footage: 9,240 Lot Size (sq. ft.): 20,473 Status: Closed

Current Price: $2,000,000 List Date: 5/18/2022 Last Modified: 9/02/2022

Overview

Description

”Please do not disturb tenants” Offers subject to site visit. SEE ATTACHMENTS FOR APOD AND Proforma. Rare 10 year old TownHome Apartments in the Heart the Nob Hill District of Albuquerque NM. Close to Interstates, Courts, Hospitals, University of New Mexico, Legal Offices, Medical Offices, Etc. 1 Unit Handicap Accessible ( One Bedroom) 11 units 2 story One Bedroom, 2 units (2 Bedroom) 2 story. All but 2 tenants or on month to month occupancy so the value add is fantastic once Market Rent is achieved. Other areas available to increase the CAP from 4.85% to Value Add 7.0%.

Listing Details MLS# 1014948

Status Change Info

Pending Date: 2022-05-25
Closing Date: 2022-08-27

Contract Information

List Price/SqFt: 216.45

Location

Street #: 501
Street Name: Girard (503 & 505 )
St Suffix: Boulevard
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
MLS Area Major: 42 – UNM South
Zone Atlas: K16

General Property Description

# of Units: 14
5+ Units: Yes
Property Sub-Type: Multi-Family
Living Area: 9240
Lot Size Source: On-Line
Acres: 0.47
Lot SqFt: 20473
Directions: From I-25, East on Coal to Girard, South to Property at the Corner of Garfield and Girard.
Stories: 2
Total # of Buildings: 3
Year Built: 2012
Age: 10 – 15
# Parking Spaces: 16
Disability Access: Yes
LBP Disclosure: No
Builder: Investor/Owner
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 11
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 652
Actual Rent: 750
Max Rent: 925
Market Rent: 900

# of Unit Types (2)

# of Units: 2
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 1063
Actual Rent: 1150
Max Rent: 1275
Market Rent: 1250

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 594
Actual Rent: 710
Max Rent: 925
Market Rent: 900

Unit Summary

Total Units: 14
Average Unit Size: 706.57
Average Actual Rent: 804.28
Annualized: 135120
Total Actual Rent: 11260

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101605724702030403

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 10473.4

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Ceiling Fan(s): Yes
Laundry Equip. Owned: Yes
Wshr/Dryr HU in Unit: Yes

Cooling

Central Air: Yes
Refrigerated: Yes

Flooring

Carpet: Yes
Concrete: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Sewer: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 135120
Operating Expenses: 41000

Build Description

Resale: Yes

Appliances included

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Free-Standing Electric Range: Yes
Range Hood: Yes
Refrigerator: Yes
Washer: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

No Sign: Yes

Metering

Master Electric: Yes
Master Gas: Yes

Operating Expenses

Other – See Remarks: Yes

Parking

1.5 Spaces Per Unit: Yes

Roof

Metal: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Month To Month: Yes

Source

Owner Provided: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Ceiling Fan(s); Laundry Equip. Owned; Wshr/Dryr HU in Unit Appliances included: Dishwasher; Disposal; Dryer; Free-Standing Electric Range; Range Hood; Refrigerator; Washer Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Central Air; Refrigerated Flooring: Carpet; Concrete Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Master Electric; Master Gas Operating Expenses: Other – See Remarks Owner Pays: Sewer; Water Tenant Pays: Electric; Gas Parking: 1.5 Spaces Per Unit Roof: Metal Rental Info: Month To Month Finance Considered: Cash; Conventional Source: Owner Provided Zoning: R-MH*

Listing Office: Berkshire Hathaway NM Prop

Last Updated: September – 02 – 2022

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