619 Madison St NE

Land: Multi-Family
Pending

619 Madison St NE, AlbuquerqueNM 87110

Property Details

Location

Address
619 Madison St NE, AlbuquerqueNM 87110
County
Bernalillo
Submarket
University
Parcels
101705835305340308

Building Size

Building Size
2,099 SF
Rentable Space
2,099 SF

Building Details

Type
 Land: Multi-Family  
 Pending
Number of Buildings
Number of Units
2
Occupancy Type
Single Tenant
Percent Occupied
Building Class
Building Status
Existing
Floors
Year Built
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.15 Acres
Land (SF)
6,534 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
R-2
Lot Depth
Lot Width

Contacts

Current Listings

UNM Nob Hill Duplex

2,348 SF$299,000
Cap Rate: 4.7%

NM Apartment Advisors is honored to list this amazing gem of duplex located just east of UNM, north of Nob-Hill and within walking distance of the Sprouts supermarket and short hop to Los Cuates and its world famous sweet and hot salsa!

Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50’s. This property was built in 2005, and includes two houses and a single car garage.

A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates.

Measurements of investment performance based on actual average rents of $1,000 per unit, 4.55% CAP rate, 17.40% before tax IRR, and 14.060% after tax IRR.

Based on a market rent of $1,138 per unit (and potential to charge for the garage) the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.

The location has a high walk (76), Bike (85), and transit (37) score and speaks of its excellent location between UNM and Uptown.

Please review flyer, APOD and LO/SO documents in document center prior to requesting an appointment for a showing.

NM Apartment Advisors is honored to list this amazing gem of duplex located just east of UNM, north of Nob-Hill and within walking distance of the Sprouts supermarket and short hop to Los Cuates and its world famous sweet and hot salsa!

Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50’s. This property was built in 2005, and includes two houses and a single car garage.

A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates.

Measurements of investment performance based on actual average rents of $1,000 per unit, 4.55% CAP rate, 17.40% before tax IRR, and 14.060% after tax IRR.

Based on a market rent of $1,138 per unit (and potential to charge for the garage) the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.

The location has a high walk (76), Bike (85), and transit (37) score and speaks of its excellent location between UNM and Uptown.

Please review flyer, APOD and LO/SO documents in document center prior to requesting an appointment for a showing.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: CARNM

More Information

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