1100 Palomas Drive Se, Albuquerque, NM

$963,138

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2

Beds

1

Bath

7,720

Square feet

0.56

Acres

About 1100 Palomas Drive Se

Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.

Features of 1100 Palomas Drive Se

MLS® # 1033316
Price $963,138
Bedrooms 2
Bathrooms 1.00
Square Footage 7,720
Acres 0.56
Year Built 1955
Type Residential Income
Sub-Type Multi Family
Status Active

Community Information

Address 1100 Palomas Drive Se
Area 71 - Southeast Heights
Subdivision Lots 1, 2 & 3 Block 12, Virginia Addition
City Albuquerque
County Bernalillo
State NM
Zip Code 87108

Amenities

Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Is Waterfront No
Has Pool No

Interior

Interior Vinyl
Appliances Refrigerator
Heating Central, Forced Air
Cooling Central Air
Fireplace No
# of Stories 1
Stories One

Exterior

Exterior Features Landscaping
Construction Frame, Stucco

Additional Information

Date Listed April 26th, 2023
Days on Market 425
RE / Bank Owned No

Listing Details

OfficeNM Apartment Advisors, Inc.

Listing Map

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