Downtown 29 units, 9.49% proforma Cap with 6 garages

Multi-Family for Sale
Catylist Listing ID: 30364974
Property Subtypes: Low-Rise/Garden
Number of Units: 29 Units
Building Size (RSF): 17,700 SF
Gross Building Area: 20,468 SF
Gross Land Area: 0.66 Acres
Sale Price: $2,120,000
Unit Price: $73,103.45 Per Unit
Property Use Type: Investment
Building Name: Coal 29
Usable Size (USF): 17,700 SF
Sale Terms: Cash to Seller
Cap Rate: 5.64%
Average Occupancy Rate: 100
Gross Rent Multiplier: 11
Last Updated: 6/26/2019

Overview / Comments

NM Apartment Advisors is excited to bring to back to market this amazing 1980s vintage downtown Albuquerque apartments 1021 Coal SW

35 page flyer at

Gated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.

Measures of investment performance at ask price of $2,120,000 and current average rent of $554 are a GRM of 11.00 a 5.64% cap rate, $73,103 per unit, $120/sf.

If rents are raised to market average of $830, measures of investment performance increase to a GRM of 7.34, and a 9.49% cap rate.

Don’t miss out – this was part of a larger portfolio that just sold and provides two recent comparable sales on the same street – all cash investors range between 5.6% to 5.9% cap rates.

Sellers have lined up their next exchange and is ready to get this moved and have authorized me to offer two prices - current appraisal at $2,120,000 for a buyer who needs financing, and $2,050,000 for an all cash buyer who can close quickly.

Please do not disturb residents - virtual tours at :

Register for additional confidential information at

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo
Tax ID/APN: 101305743833611701
Zoning: MX-L - Mixed-use: Low Intensity
Percent Occupied: 100%
Property Condition: Good
Roof Type: Flat
Construction/Siding: Stucco, Wood Frame
Laundry: Shared

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,204 109,957 293,848
Median Age: 36.77 34.54 34.23
Households: 6,192 44,887 117,044


© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.