503 7th Street SW, Albuquerque, NM 87102 (MLS# 1044359) -

503 7th Street SW, Albuquerque, NM 87102

$899,000

Property Type: Residential Income Square Footage: 3,729 Lot Size (sq. ft.): 6,316 Status: Closed

Current Price: $899,000 List Date: 11/03/2023 Last Modified: 6/10/2025

Overview

Description

Don’t miss out on this turn-key investment opportunity to own a residential income property convenient located in the heart of downtown, within a short distance of Tingley Beach, BioPark, Old Town and Nob Hill with a wide array of great restaurant options, shopping, groceries and entertainment. This property features five charming bright units (2-1 Bedrooms) that have been renovated throughout the years with premium flooring, neutral color palette throughout, providing a comfortable and inviting living space for tenants. Beautiful low maintenance landscaping complimented by well-maintain common area gardens, creating a lush and private community atmosphere. Plenty of street parking and a large back & side yards for tenants to use. This property also offers a free common laundry.

Listing Details MLS# 1044359

Status Change Info

Pending Date: 2024-04-24
Closing Date: 2024-06-18

Contract Information

List Price/SqFt: 241.08

Location

Street #: 503
Street Name: 7th
St Suffix: Street
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 3809
MLS Area Major: 80 – Downtown Area
Zone Atlas: K14

General Property Description

# of Units: 5
5+ Units: Yes
Property Sub-Type: Multi-Family
Living Area: 3729
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6316
Directions: Head west on Lead Ave from I-25. Turn left on 8th street and an immediate next left on Coal Ave. The property is on the right.
Stories: Yes
Total # of Buildings: 2
Year Built: 1926
Age: 81 – 99
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 3
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 600
Actual Rent: 2085
Max Rent: 2085
Market Rent: 2085

# of Unit Types (2)

# of Units: 2
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 450
Actual Rent: 1700
Max Rent: 1700
Market Rent: 1700

Unit Summary

Total Units: 5
Average Unit Size: 540
Average Actual Rent: 1931
Annualized: 115860
Total Actual Rent: 9655

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101405703229520109

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 8816.04

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Enclosed Yard: Yes
Laundry Community: Yes
Some Landscaping: Yes

Cooling

Central Air: Yes
Ductless: Yes

Flooring

Laminate: Yes

Heating

Central: Yes
Ductless: Yes
Forced Air: Yes
Wall Unit: Yes

Owner Pays

Some Utilities: Yes

Tenant Pays

Some Utilities: Yes

Income & Expenses

Annual Gross Income: 100620
Operating Expenses: 31178

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

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

Green Energy Generation

None: Yes

Electric Provider

Private: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes
Laundry Separate: Yes

Roof

Flat: Yes
TPO (G): Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Call Listing Broker: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Enclosed Yard; Laundry Community; Some Landscaping Appliances included: Refrigerator Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Central; Ductless; Forced Air; Wall Unit Cooling: Central Air; Ductless Flooring: Laminate Green Energy Generation: None Electric Provider: Private Metering: Individual Electric; Individual Gas; Laundry Separate Owner Pays: Some Utilities Tenant Pays: Some Utilities Roof: Flat; TPO (G) Rental Info: Call Listing Broker Finance Considered: Cash; Conventional Zoning: R-MH*

Documents

Property Flyer ›

Listing Office: EXP Commercial, LLC

Last Updated: June – 10 – 2025

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.