Texas 10 plex
Multi-Family
for Sale
| Catylist Listing ID: |
30660020 |
| Number of Units: |
10 Units |
| Building Size (RSF): |
5,868 SF |
| Sale Price: |
$650,000 |
| Unit Price: |
$65,000 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
Texas Ten |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
7.7% |
| Average Occupancy Rate: |
95 |
| Last Updated: |
11/24/2020 |
Overview / Comments
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This investment property is ready to go with all inspections and repairs complete. Incentive for fast cash closing. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a great return without the cash demand of updating. All of the units have been remodeled, which includes laminate and tile floors. Appliances are new, bathrooms are updated along with lighting, paint, doors, window coverings. Other updates include new evaporative coolers, many new hot water heaters, laundry room with coin-operated dryers and washers and surveillance, fire escapes for 2nd story units, recent roof, resurfaced parking lot and wrought iron security fence and gate. There is also plenty of room in the back of lot to add storage units for additional income. Most tenants are long-term. Electric and gas are separately metered. Hard to find a multi-plex like this one.
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Financials
| Finance Data Year |
2020 |
| Real Estate Taxes - Annual($) |
$3,389 (Annual) |
| Potential Rental Income |
$84,000 (Annual) |
| Gross Operating Income |
$82,314 (Annual) |
| Net Operating Income |
$49,604 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Albuquerque |
| County: |
Bernalillo |
| Submarket/Township: |
Southeast |
| Taxing Authority: |
Bernalillo County |
| Tax ID/APN: |
101905737333710314 |
| Zoning: |
R-ML - Residential: Multi-family Low Density |
| Property Located Between: |
Louisiana and Wyoming |
| Highway Access: |
From I-40 go south on Wyoming to Marquette. Turn right and proceed to Texas. Turn left and proceed to 501. |
| Airports: |
Albuquerque International |
| Total Number of Buildings: |
1 |
| Property Condition: |
Excellent |
| Number of Stories: |
2 |
| Year Built: |
1974 |
| Year Renovated: |
2019 |
| Roof Type: |
Flat |
| Construction/Siding: |
Stucco, Wood Frame |
| Parking Ratio: |
2.2 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Recently repaved with new striping and parking blocks |
| Total Parking Spaces: |
22 |
| Laundry: |
Shared |
| Sprinklers: |
None |
| Heat Type: |
Natural Gas |
| Heat Source: |
Wall Units |
| Fuel: |
Gas |
| Air Conditioning: |
Evaporative Cooler |
| Internet Access: |
Cable |
| Interior Description: |
All units are remodeled with solid surface floors, new appliances, doors, window coverings. |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Utilities |
| Legal Description: |
*45A 35 Replat of LTS 45 & 46 Blk 35 & LTS 25 & 26 Blk 30 Including Vac N1/2 & S1 /2 of Grande Ave of Mesa Verde Addn CO |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
27,385 |
153,392 |
281,188 |
| Median Age: |
33.33 |
37.53 |
37.71 |
| Households: |
10,556 |
67,089 |
125,261 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Commercial Association of REALTORS® - New Mexico nor
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