Active
7600 Central Avenue SE
Albuquerque NM, 87108
$1,425,000
$135.52 per sqft
Active
1 Bed
1 Bath
10,515 sqft
Multi-family
Built in 1946
Courtesy of NAI SunVista Commercial RE
The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*
1067286
MLSⓇ ID
July 19, 2024
Listed
September 3, 2024
Updated
Map
7600 Central Avenue SE
Albuquerque NM, 87108
Interior Features
Total Stories
1
Bedrooms
1
Total Bathrooms
1
Appliances
Cooktop, Microwave, Refrigerator, Range Hood
Floor Description
Laminate, Tile, Vinyl
Fireplace
No
Cooling
Yes
Cooling Description
Evaporative Cooling, Varies by Unit, Window Unit(s)
Heating
Yes
Heating Description
Floor Furnace
Exterior/Building Features
Lot Size
0.63 Acres
Other Property Details
Area Name
71 - Southeast Heights
Taxes
$5,628
Tax Frequency
Annually
Days on Market
46
Garage
No
View
No
County
Bernalillo
Pool
No
Green Building Features
Green Features
None
Listing History
Date | Event | Price |
|---|---|---|
9/3/2024 | Price change | $1,425,000 -7% |
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