About 7600 Central Avenue Se
The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*
Features of 7600 Central Avenue Se
| MLS® # | 1067286 |
|---|---|
| Price | $1,425,000 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Square Footage | 10,515 |
| Acres | 0.63 |
| Year Built | 1946 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 7600 Central Avenue Se |
|---|---|
| Area | 71 - Southeast Heights |
| 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 | Laminate, Tile, Vinyl |
|---|---|
| Appliances | Cooktop, Microwave, Refrigerator, Range Hood |
| Heating | Floor Furnace |
| Cooling | Evaporative Cooling, Window Unit(s), Varies by Unit |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Additional Information
| Date Listed | July 20th, 2024 |
|---|---|
| Days on Market | 339 |
| RE / Bank Owned | No |
Listing Details
| Office | NAI SunVista Commercial RE |
|---|