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 | 509 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|