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335 Espanola Street NE

Albuquerque, NM 87108

– beds
1 bath
7,500 sqft
~1/2 acre lot
$124 per sqft
1946 build
– on site

Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increase from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre

Listing courtesy of SWMLS / NM Apartment Advisors, Inc.

Last checked: Checking… • Last updated Nov 20, 2024 •

MLS# 1044432 —

The Building

Year Built:

1946
Builder Name:

Unknown
New Construction:

false
Construction Materials:

Block,Frame,Stucco
Stories Total:

1
Levels:

One
Basement:

false
Accessibility Features:

None
Building Area Total:

7500.0

Interior

Flooring:

Carpet,Wood

Room Dimensions

Living Area:

7500.0

Location

Directions:

From I-40 and Louisiana south to Copper east to Espanola, south to property.
Latitude:

35.079623
Longitude:

-106.564207

The Property

Parcel Number:

101905712325632311
Property Type:

ResidentialIncome
Property Subtype:

MultiFamily
Property Condition:

Resale
Zoning Description:

R-T*
Lot Size Acres:

0.46
Lot Dimensions Source:

PublicRecords
Lot Size SqFt:

20037.6
Lot Size Source:

PublicRecords
Additional Parcels:

true

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

4576.12
Tax Legal Description:

Lots 10, 11 & 12, Block 5,La Mesa Addition

Baths

Total Baths:

1

Heating & Cooling

Heating:

Central,ForcedAir,FloorFurnace,WallFurnace
Heating:

true
Cooling:

EvaporativeCooling
Cooling:

true

Utilities

Utilities:

ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
Electric:

None
Green Energy Generation:

None

Appliances

Appliances:

Refrigerator

The Community

Subdivision Name:

La Mesa Addition

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
11/20/24 Nov 20, 2024	Listed / Active	SWMLS	$930,000

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This multifamily located in Northeast Albuquerque, Albuquerque, NM 87108 is currently for sale for $930,000. 335 Espanola Street NE is a 7,500 square foot multifamily with – beds and 1 bath that has been on Estately for 0 days. 335 Espanola Street NE is in the Northeast Albuquerque neighborhood of Albuquerque and has a WalkScore® of 62, making it somewhat walkable. This multifamily is in the attendance area of Hayes Dual Language Magnet Middle School, La Mesa Elementary School, and Highland High School.

Listing Courtesy of: SWMLS and NM Apartment Advisors, Inc..

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.