Price Reduction
Address
501 Texas Street NE Albuquerque, NM
Price
$ 650,000
Property Attributes
  • MLS#979853
  • TypeMulti-Family
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaFairgrounds
  • NeighborhoodMesa Verde Addition
  • Zip87108
  • StyleMulti Family
  • Year Built1974
  • Taxes3323
  • Price$ 650,000
  • Bedrooms1
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage5868
  • Lot Size12,632 SqFt
Listing Provided Courtesy Of:
Dave Slade & Associates LLC
Property Description

Fantastic price on this 10 plex. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a 7.7% cap rate 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. Hard to find a multi-plex like this one.

Price History
10/24/2020 Listed $675,000
11/20/2020 4% - $650,000

General Features

Accessibility None
Appliances Free-Standing Electric Range, Refrigerator, Range Hood, Self Cleaning Oven
Construction Materials Frame
Cooling Evaporative Cooling
Electric None
Exterior Features Balcony, Deck
Flooring Laminate, Tile
Heating Gas, Wall Furnace
MLS Area 70 - Fairgrounds
Patio/Porch Features Balcony, Deck
Property SubType Multi Family
Property Type Residential Income
PropertyCondition Resale
Stories 2
Subdivision Name Mesa Verde Addition
Terms Cash, Conventional
Total Units 10
Utilities Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Zoning Description R-ML*

Interior Features

Heating Y/N Yes
Laundry Features Common Area
Living Area 5868
Total Baths 1
Total Bedrooms 1

Exterior Features

Lot Size Acres 0.29
Lot Size Source Public Records
Lot Size Square Feet 12676
Number of Buildings 1
Total Parking 19

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 $490K
$650K
Taxes
AVG $3,028
$3,323
Visits
AVG 50
50
Year Built
AVG 1963
1974
Walkscore
AVG 64
45
Data Provided by Walkscore ® not using MLS data

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