9 Unit Multifamily - Only $40k a door!!

Bernalillo County, Albuquerque, NM, 87108
Sold
Listed at: August 8th, 2024
Price
$360,000
ARV
$720,000
Gross Margin
$360,000
Sq. Footage
504
Type
Multifamily
Parking
Driveway
Year build
1951
Lot size
0.16 acres
Bedrooms
9
Bathrooms
9
Half Bathrooms
0
Summary

ARV 720,000

9 x 1/1 units single story complex. Master metered water.  Sub metered gas/electricity. Stabilized value projected at 707k @ 8 cap (assuming $950/month per unit at 40% expense ratio, 8% vacancy), 7 units on one parcel and 2 units on another parcel. All units are vacant. Heavy rehab. 

Acreage - 0.31

 

Photo packet here: https://drive.google.com/drive/folders/17TVJKQdmcY3QBtRJf-yrbVmvIO_VjB6J?usp=sharing

**DISCLAIMER** This company has Direct Contract with Seller. Legal Action will be taken against anyone who contacts the Seller directly This company has a contract directly with Seller and Title/Escrow has been opened. House is being sold as-is, and buyer is to pay closing costs & escrow fees for both Buyer & Seller side. No representations written or oral are made concerning the properties above. Buyer Must Submit non-refundable $10,000 EMD within 24 hours after deadline. Buyers to do their own independent due diligence.This company, its members or employees make no guarantees concerning property condition, value, characteristics or financial benefits. This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action. All buyers are highly encouraged to contact the city/county building department and obtain up to date information if desired and also to investigate all current permits.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Robbie Faithe

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Disposition manager