Address
621 Grove Street SE Albuquerque, NM
Price
$ 87,500
Property Attributes
  • MLS#976001
  • TypePending
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaSoutheast Heights
  • NeighborhoodEmil Mann
  • Zip87108
  • StyleTriplex
  • Year Built1957
  • Taxes1162
  • Price$ 87,500
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage2074
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Property Description

Offer deadline 9/24 at noonProperty tour - requires RSVP - 9/22 at noon.New to the market and an amazingly hard to find - 6 rental units that need renovation and rehabilitation.The owner is open to selling each triplex individually for $87,500 or together for $175,000.At the start price of $175,000 and an average rent of $617 the measure of investment performance include a GRM of 3.94, a CAP rate of 15.60%, a price per unit of $25,916, a price per square foot of $38,99 and an after-tax IRR that is really too high to quote. Of course, all of this depends on the new owner renovating the units to rentable condition.Market comps indicate a value of $147,575

Price History
8/31/2020 Listed $87,500

General Features

Accessibility None
Additional Parcels Y/N Yes
Construction Materials Brick, Frame
Cooling Other, See Remarks
Electric None
Heating Other, See Remarks
MLS Area 71 - Southeast Heights
Property SubType Triplex
Property Type Residential Income
PropertyCondition Resale
Stories 1
Subdivision Name Emil Mann
Terms Cash, Conventional
Total Units 3
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Zoning Description R-ML*

Interior Features

Living Area 2074
Total Baths 1
Total Bedrooms 2

Exterior Features

Lot Size Acres 0.16
Lot Size Source Public Records
Lot Size Square Feet 6752
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 87108

Price
AVG $310K
$90K
Taxes
AVG $2,546
$1,162
Visits
AVG 31
19
Year Built
AVG 1963
1957
Walkscore
AVG 65
49
Data Provided by Walkscore ® not using MLS data

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