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600 Morris Street NE

Albuquerque, NM 87123
  • $4,988,057
  • STATUS: Active
  • ON SITE: 33 Days
  • MLS #: 1018368
UPDATED: 179 min ago
$4,988,057
  • 1
    BEDS
  • 1.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 34,581
    SQFT
  • $144
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1982
County:

School Ratings & Info

Description

Located across the street from the Presidio, a high end residential gated community, and walking distance to a Walmart Super Center, power boxes, and restaurants, this community has an abundance of retail amenities for their residents. The property is also located in close proximity to Kirtland Air Force Base, Sandia National Laboratories, and Albuquerque's biking/hiking trail system.This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes, high speed internet and the development of private yard spaces.CORE AssetMeasures of investment performance at the ask price of $4,988,057 and current average rents of $709 a month are a GRM of 11.28, a 5.98% cap rate, $95,924 per unit, $144/sf.

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IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Team | Realty Executives Advantage. Data last updated: 2022-08-09T00:04:57.647.
www.trtnm.com/homes/130617968
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600 Morris Street NE Albuquerque, NM 87123

  • Price: $4,988,057
  • Status: Active
  • On Site: 33 Days
  • Updated: 179 min ago
  • MLS #: 1018368
1
Beds
0
Baths
0
½ Baths
1.12
Acres
34,581
SQFT
$144
$/SQFT
1982
Built
Neighborhood:
50 - Northeast Heights
County:
Bernalillo
Area:
50 - Northeast Heights
Property Description
Located across the street from the Presidio, a high end residential gated community, and walking distance to a Walmart Super Center, power boxes, and restaurants, this community has an abundance of retail amenities for their residents. The property is also located in close proximity to Kirtland Air Force Base, Sandia National Laboratories, and Albuquerque's biking/hiking trail system.This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes, high speed internet and the development of private yard spaces.CORE AssetMeasures of investment performance at the ask price of $4,988,057 and current average rents of $709 a month are a GRM of 11.28, a 5.98% cap rate, $95,924 per unit, $144/sf.
Exterior Features

Construction Materials Frame Exterior Features Landscaping Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Bathrooms Total Integer 1 Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring CarpetTile Heating CentralForced Air Heating YN Yes

Property Features

Accessibility Features None Additional Parcels YN Yes Builder Name Dodson Building Area Total 34581 Disclosures Principal is Real Estate LicensedRanm 2100 Disclosure Gross Income 426204 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 139931 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 4972.76 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Description R-Ml*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Team | Realty Executives Advantage. Data last updated: 2022-08-09T00:04:57.647.
 
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The Team | Realty Executives Advantage
2440 Lousiana Blvd
Albuquerque NM, 87110