Bought with Deacon Property Services
$2,164,000
$2,445,000
11.5%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
21,420 SqFt
SOLD DATE : 09/29/2023
Key Details
Sold Price $2,164,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 21,420 sqft
Price per Sqft $101
Subdivision Knob Heights
MLS Listing ID 1013743
Sold Date 09/29/23
Bedrooms 2
Construction Status Resale
HOA Y/N No
Year Built 1963
Annual Tax Amount $1,885
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
8 unit portfolio of seven fourplexes, owned by the same family for over 25 years. Located at 3410, 3414, 3418 , 3422, 3430, 3430 and 3438 Thaxton SE, this community is served by all of the new employment and restaurants along the Gibson/Airport corridor.This value-add asset is ripe for an investor looking to reposition an asset. Full inspection reports are now available and the new price reflects the work that could be done by the next owner.As the ask price of $2,445,000 and with an average rent of $723, the measures of investment performance include $87,123 per unit, $114.15 per square foot, a before reserves cap rates of 6.10%, and an after tax IRR of 13.60%.If rents are moved to market of $1,050, measure of investment performance improve to a cap rate of 10.02%.
Location
State NM
County Bernalillo
Area 42 - Unm South
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Carpet, Vinyl
Fireplace No
Laundry Washer Hookup
Exterior
Exterior Feature Landscaping
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101605642115841016
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
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