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421 Broadway Boulevard SE

Albuquerque, NM 87102

– beds
1 bath
9,250 sqft
13,939 sqft lot
$129 per sqft
1920 build
– on site

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The Broadway Market Building, located at 421 Broadway SE, was built in the early 20th century and originally served as both a neighborhood retail anchor for the Huning Highlands area and one of the city's first live work communities. It housed a classic neighborhood grocery for over 60 years along with many other local shops and an ever vibrant, always fully-occupied apartment community above. In over a hundred years the property has had just two owners. Based on the current average rents of $891 per month, and ask price $1,335,236, the property's measures of investment performance include a 8.45 GRM, 6.97% cap rate before reserves, before tax IRR of 18.0% and an after-tax IRR of 14.3%.

Listing courtesy of SWMLS / NM Apartment Advisors, Inc.

Last checked: Checking… • Last updated Nov 15, 2024 •

MLS# 1063960 —

The Building

Year Built:

1920
Builder Name:

Unknown
New Construction:

false
Construction Materials:

Adobe,Brick,BrickVeneer,Frame,Stucco
Stories:

2
Levels:

Two
Basement:

true
Accessibility Features:

None
Building Area Total:

9250.0

Interior

Flooring:

Wood

Room Dimensions

Living Area:

9250.0

Location

Directions:

From I-25 and Coal west to property.
Latitude:

35.079936
Longitude:

-106.645775

The Property

Parcel Number:

101405734225610104
Property Type:

ResidentialIncome
Property Subtype:

MultiFamily
Property Condition:

Resale
Zoning Description:

MX-M*
Lot Size Acres:

0.32
Lot Dimensions Source:

PublicRecords
Lot Size SqFt:

13939.2
Lot Size Source:

PublicRecords

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

5093.48
Tax Legal Description:

Lots 5 & 6, Block 5, Huning's Highland Addition

Baths

Total Baths:

1

The Listing

Heating & Cooling

Heating:

Central,ForcedAir
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:

Huning's Highland Addition

Explore the Area

My Commute

From

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/12/24 Nov 12, 2024	Sold	SWMLS	$1,200,000

Multifamily Sold on 11/12/2024

$1,200,000

Listing provided by broker:

Todd Clarke

NM Apartment Advisors, Inc.

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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.

421 Broadway Boulevard SE

Albuquerque, NM 87102