123 53rd Street Nw, Albuquerque, 87105

Residential Income - Multi Family For Sale in Lomita Encantada Subdivision

$575,000

1Bed
1Bath
6,883Sqft
.88Acres
1947Built
117DOM
MLS® #: 958702
Pending, 117 Days on Market

NM Apartment Advisors is excited to bring this 9 unit courtyard style community to market for the first time since the Milligan family developed it. Built in 1942, 1947, 1974 & 1992, this 9 unit, 7 building property contains units from small bedrooms to three large houses, a storage building and a bit of extra land.After 60 years of building apartments around the city, including this community, the Milligan family has decided to retire from the rental business and is offering the property as a value add with a high cap rate of 8.40%.Zoned R-ML, the 0.88 acres site has some room for another duplex. (per owner/developer).Although recent renovations have been done, this investment is a value-add opportunity.

Essential Information

MLS® #: 958702
Price: $575,000
Bedrooms: 1
Bathrooms: 1.00
Square Footage: 6,883
Acres: 0.88
Year Built: 1947
Type: Residential Income
Sub-Type: Multi Family
Status: Pending

Community Information

Address: 123 53rd Street Nw
Area: 111 - Ladera Heights
Subdivision: Lomita Encantada Subdivision
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87105

Amenities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Interior

Interior: Carpet, Vinyl
Appliances: Refrigerator
Heating: Other, See Remarks
Cooling: Evaporative Cooling
# of Stories: 2
Stories: Two

Exterior

Construction: Frame

Additional Information

Date Listed: December 5th, 2019
Days on Market: 117

Listing Details

Listing Office: NM Apartment Advisors, Inc.

Financials

$/SqFt: $84

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.

Listing information last updated on May 25th, 2020 at 2:15am MDT.