335 Espanola Street NE Albuquerque, NM ^$ 875,997

335 Espanola Street NE

^$ 875,997

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335 Espanola Street NE

Albuquerque, NM, 87108

^$ 875,997

Studio Baths1.0 Sq 7,500

Monthly Estimate*

^$ 5,822

335 Espanola Street NE, Albuquerque, NM 87108 - Image 1

335 Espanola Street NE, Albuquerque, NM 87108 - Image 2

335 Espanola Street NE, Albuquerque, NM 87108 - Image 3

335 Espanola Street NE, Albuquerque, NM 87108 - Image 4

335 Espanola Street NE, Albuquerque, NM 87108 - Image 5

335 Espanola Street NE, Albuquerque, NM 87108 - Image 6

335 Espanola Street NE, Albuquerque, NM 87108 - Image 7

Studio

Multi-Family Home for sale in Albuquerque, NM

for $875,997 with 1 full bath. This 7,500 square foot home was built in 1946 on a lot size of 0.46.

The property contains a large two bedroom home, 5 two bedroom units, 5 one bedroom units and a studio apartment all in a private courtyard setting facing each other. Current rents are 30% below market.Measures of investment performance with an average rent of $738 and an ask price of $875,997 include $73,000 per unit , $116.80/sf, 6.76% cap rate, and an after tax IRR of 11.2%.If rents are moved closer to the market average of $975, the measures of investment performance improve to a 10.14% cap rate.Recent comparable sales indicate a value of $1,184,884 and the owner has priced these deals under market comparable sales to ensure an expedited closing.

Multi-Family Pending

Price

^$ 875,997

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 4,576

Style

MultiFamily

Lot Size

0.46

Year Built

1946

Town/City

Albuquerque

County/Region

Bernalillo

MLS | Web ID

1044432

Features

General

Heating Central ForcedAir FloorFurnace WallFurnace

Cooling EvaporativeCooling

Utilities ElectricityConnected NaturalGasConnected SewerConnected WaterConnected

Appliances Refrigerator

Construction Materials Block Frame Stucco

Year Built 1946

Electric None

Tenant Pays Other SeeRemarks

Stories 1

Levels One

Property SubType MultiFamily

Gross Income 96216.0

Accessibility None

County Bernalillo

Operating Expense 43315.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Subdivision Name La Mesa Addition

Garage Y/N N

Green Energy Generation None

Status Pending

Directions From I-40 and Louisiana south to Copper east to Espanola south to property.

City Albuquerque

Disclosures LeadBasedPaintDisclosure RANM2100Disclosure

View Y/N N

Senior Community Y/N N

Zoning Description R-T*

NumberOfUnitsTotal 12

MLS Area 70 - Fairgrounds

Lot Size Square Feet 20037.6

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Espanola

Listing Terms Cash Conventional

Property Attached Y/N N

Land Lease Y/N N

Tax Annual Amount 4576.12

Home Warranty Y/N N

Property Condition Resale

Lease Renewal Y/N N

Additional Parcels Y/N Y

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 148

Builder Name Unknown

Standard Status Pending

Legal Description Lots 10 11 & 12 Block 5 La Mesa Addition

Interior

Flooring Carpet Wood

Total Stories 1

Basement (Y/N) N

Air Conditioning Y/N Y

Heating Y/N Y

Fireplace Y/N N

Street Suffix Street

Total Bedrooms 0

Electric On Property Y/N N

Total Baths 1

Exterior

Number of Buildings 3

Spa N

Building Area Total 7500.0

Lot Size Acres 0.46

Lot Size Source PublicRecords

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

* Excluded Features

List By

Todd Clarke

Listing Agent

Nm Apartment Advisors, Inc.

Broker

tclarke@nmapartment.com

Affordability Calculator

$6,203

Per Month

Monthly Principal & Interest: $5,822
Monthly Property Taxes: $381
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Albuquerque, NM

Average List Price ^$698,278

Percent of Sale Price 20%

About Albuquerque, NM

565,162 Population

25% Since 2002

^$49,805 Median Income

36.92 Median Age

28% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

537023 Elementary School

537125 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/8/2023	$850,000		Listed Price

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335 Espanola Street NE, Albuquerque, NM, 87108 is a Multi-Family Home for sale at $875,997 with 7,500 sqft and a lot size of 0.46. 335 Espanola Street NE is a studio with 1.0 baths and was built in 1946. The property's zip code is 87108 which is in Albuquerque, NM

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the Southwest Multiple Listing Service, Inc.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Southwest Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistribute. Its sole purpose is to be used for no other purpose than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 6/9/2024.

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335 Espanola Street NE

Multi-Family Home for sale in Albuquerque, NM

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