Bought with Deacon Property Services
$745,456
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1 Bath
3,880 SqFt
SOLD DATE : 12/11/2020
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,880 sqft
Price per Sqft $188
Subdivision Mesa Grande Addition
MLS Listing ID 971096
Sold Date 12/11/20
Construction Status Resale
HOA Y/N No
Year Built 1956
Annual Tax Amount $2,807
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions Public Records
Property Description
Located at 456-460 ValVerde SE and on the edge between Nob-Hill, UNM and Ridgecrest, the Edgecrest apartments contain millennial friendly studio units with private courtyards - virtual tour available.The location offers a high bike score (91) and good walk score (71) and decent transportation score (44) and is walking distance to retail and restaurants, most of Nob-hill and biking distance to UNM and CNM.Although the asset is a stable performing core property, it is also a value add opportunity with actual rents 14.00% below market.Measure of investment performance at list price of $745,456 and with average rent of $564 include GRM of 11.02, Before Reserves Cap rate of 6.22% and after tax IRR of 18.10%.
Location
State NM
County Bernalillo
Area 42 - Unm South
Interior
Heating Wall Furnace
Cooling Evaporative Cooling
Flooring Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Exterior Feature Landscaping
Community Features Laundry Facilities
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID Not Available
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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