La Veta 12

Multi-Family for Sale
Catylist Listing ID: 30139410
Property Subtypes: Duplex/Fourplex
Number of Units: 12 Units
Building Size (RSF): 6,048 SF
Gross Land Area: 0.22 - 0.23 Acres
Sale Price: $475,000
Unit Price: $39,583.33 Per Unit
Property Use Type: Investment
Building Name: 300 La Veta Dr NE
Usable Size (USF): 6,048 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 4/19/2018

Overview / Comments

Amazing value add opportunity - located just east of Nob Hill, north of the under construction ABQ Rapid Transit this apartment investment is priced substantially below market reflecting the # of vacant units and units undergoing renovation.

Offered a 8.0% CAP rate, 11.2% cash on cash on actual rents of $404, market rents of $689 supports a 15.6% Cap rate and an astronomical cash on cash.

Virtual tours at:
Unit 1:
Unit 6:
Unit 8:
Unit 12:

Part of UPCOMING ART tour - contact Listing Agent for details - offer deadline has been moved..

2/12/2018 update - client has authorized new price of $475,000


Finance Data Year 2016
Assessed Value - Total($) $226,200 (Annual)
Potential Rental Income $99,216 (Annual)
Net Operating Income $33,153 (Annual)
Gross Operating Income $55,590 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Taxing Authority: Bernalilo
Tax ID/APN: 101805709026020401
Zoning: R-3 - Residential Zone
Property Located Between: Central & Copper, San Mateo & San Pedro
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1973
Roof Type: Flat
Construction/Siding: Stucco
Zoning Description: R-3
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lots 11 & 12, Block 22, Tijeras Place addition

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,160 129,934 303,108
Median Age: 40.07 36 37.41
Households: 10,315 57,865 133,989


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