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7600 Central Avenue SE

Albuquerque, NM 87108
  • $1,425,000
  • STATUS: Active
  • ON SITE: 113 Days
  • MLS #: 1067286
UPDATED: 138 min ago
$1,425,000
  • 1
    BEDS
  • 0.63
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 10,515
    SQFT
  • $136
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1946
County:

School Ratings & Info

Description

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.*

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IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Rush Real Estate Group | Realty One of New Mexico. Data last updated: 2024-11-11T00:05:22.387.
www.albuquerquerealestateservices.com/homes/152829575
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7600 Central Avenue SE Albuquerque, NM 87108

  • Price: $1,425,000
  • Status: Active
  • On Site: 113 Days
  • Updated: 138 min ago
  • MLS #: 1067286
1
Beds
1
Baths
0
½ Baths
0.63
Acres
10,515
SQFT
$136
$/SQFT
1946
Built
Neighborhood:
71 - Southeast Heights
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
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.*
Exterior Features

Levels One

Interior Features

Appliances Cooktop Microwave Refrigerator Range Hood Basement YN No Cooling Evaporative Cooling Varies by Unit Window Unit(s) Cooling YN Yes Flooring Laminate Tile Vinyl Heating Floor Furnace Heating YN Yes

Property Features

Builder Name Unknown Building Area Total 10515 Green Energy Generation None Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional FHA New Construction YN No Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 5627.5 Tenant Pays None Utilities Electricity Connected Natural Gas Connected Sewer Connected Water Connected Zoning Description MX- M*

Southwest MLS] logo Listing courtesy of NAI SunVista Commercial RE: (505) 878-0001. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Rush Real Estate Group | Realty One of New Mexico. Data last updated: 2024-11-11T00:05:22.387.
 
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Rush Real Estate Group | Realty One of New Mexico
8500 Menaul Blvd. NE, Suite A-240
Albuquerque NM, 87112