Active

7600 Central Avenue SE

Albuquerque NM, 87108

$1,425,000


$135.52 per sqft

Active

1 Bed

1 Bath

10,515 sqft

Multi-family

Built in 1946

Courtesy of NAI SunVista Commercial RE

The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*

1067286

MLS ID

July 19, 2024

Listed

November 22, 2024

Updated

Map

7600 Central Avenue SE
Albuquerque NM, 87108

Interior Features

Total Stories

1


Bedrooms

1


Total Bathrooms

1


Appliances

Cooktop, Microwave, Refrigerator, Range Hood


Floor Description

Laminate, Tile, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Evaporative Cooling, Varies by Unit, Window Unit(s)


Heating

Yes


Heating Description

Floor Furnace

Exterior/Building Features

Lot Size

0.63 Acres

Other Property Details

Area Name

71 - Southeast Heights


Taxes

$5,628


Tax Frequency

Annually


Days on Market

46


Garage

No


View

No


County

Bernalillo


Pool

No

Green Building Features

Green Features

None

Listing History

Date

Event

Price

9/3/2024

Price change

$1,425,000

-7%

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. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Anita Mora shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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