The Courtyards of Old Town

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30679921
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 8 Units
Building Size (RSF): 5,048 SF
Gross Building Area: See Agent
Gross Land Area: 10,650 SF
Sale Price: $995,000
Unit Price: $124,375 Per Unit
Property Use Type: Investment
Building Name: The Courtyards of Old Town
Sale Terms: Cash to Seller, Purchase Money Mortgage, Sale/Leaseback
Cap Rate: 5.27%
Last Updated: 3/4/2021

Overview / Comments

Charming southwestern style apartments nestled between downtown and Old Town Albuquerque. One block from Central arterial Historic Route 66 and ART System. Shopping, Brew Pubs, Theatre and small business epicenter. Tenants can live, work and play within a short radius. lengthy rental histories. Units share an enclosed common area in addition to semi-private courtyards. Master Water and Sewer, individual electric , gas, heating , evaporative cooling.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101305830915542308
Zoning: R-ML - Residential: Multi-family Low Density
Percent Occupied: 90%
Property Located Between: Central Ave and Lomas Blvd NW
Airports: Albuquerque International Sunport
Site Description: Level, cul-de-sac,
Area Description: Small business access, public transportation, downtown redevelopment
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 1
Year Built: 1934
Year Renovated: 2005
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Stucco and adobe, private and secure entry for several units
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: On street
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Wall Units
Fuel: Wood
Air Conditioning: Evaporative Cooler
Internet Access: Cable, DSL, Fiber Optic
Interior Description: Adobe interiors, southwest style, also one building is an former neighborhood grocery store
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: alley
Land Ownership: Fee Simple
Legal Description: Lt 1-A Blk 13 Plat of Lot 1-A Block No. 13 Perea Addition Cont.245 Ac

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,607 113,964 297,004
Median Age: 39.71 34.34 34.18
Households: 5,689 45,953 117,080

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