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$4,988,057
600 Morris St NE, Albuquerque, NM 87123
1 Beds
1 Baths
34,581 SqFt

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Located across the street from the Presidio, a high end residential gated community, and walking distance to a Walmart Super Center, power boxes, and restaurants, this community has an abundance of retail amenities for their residents. The property is also located in close proximity to Kirtland Air Force Base, Sandia National Laboratories, and Albuquerque's biking/hiking trail system.This is a core asset with stabilized cash flows that could also be a value-add opportunity if an investment was made in upgraded finishes, high speed internet and the development of private yard spaces.CORE AssetMeasures of investment performance at the ask price of $4,988,057 and current average rents of $709 a month are a GRM of 11.28, a 5.98% cap rate, $95,924 per unit, $144/sf.
  • Price:
  • $4,988,057
  • Bedrooms:
  • 1
  • Square Footage:
  • 34,581
  • Acreage:
  • 1.12
  • Year Built:
  • 1982
  • Listing ID #:
  • 1018368
  • Street Address:
  • 600 Morris St NE
  • City:
  • Albuquerque
  • State:
  • New Mexico
  • Postal Code:
  • 87123
  • County:
  • Bernalillo
  • Community:
  • 50 - Northeast Heights
  • Listing Status:
  • Pending
  • Listing Type:
  • Residential Income
  • Approximate Total Liveable Area:
  • 34581
  • Builder:
  • Dodson
  • Building Condition:
  • Resale
  • Construction Description:
  • Frame
  • Exterior Features:
  • Landscaping
  • Flooring:
  • Carpet, Tile
  • Number Of Floors In Unit:
  • Two
  • Number Of Units:
  • 52
  • Stories:
  • 2
  • Stories:
  • 2
  • Total # Of Buildings:
  • 5
  • Total Building Square Footage:
  • 34581
  • Year Built:
  • 1982
  • Year Built Description:
  • 31 - 40
  • Gross Income:
  • 426204
  • Operating Expense:
  • 139931
  • Approximate Lot Size Range Source:
  • Public Records
  • Lot Square Footage:
  • 49005
  • Zoning Description:
  • R-Ml*
  • Days On Market:
  • 82
  • On Market Date:
  • 2022-07-05
  • Originating Mls:
  • Swmls
  • Property Disclosures:
  • Principal Is Real Estate Licensed, Ranm 2100 Disclosure
  • Terms:
  • Cash, Conventional
  • Property Taxes:
  • $4,972
  • Tenant Pays:
  • Other, See Remarks
  • Appliances:
  • Refrigerator
  • Cooling System:
  • Evaporative Cooling
  • Has Central Air Conditioning:
  • 1
  • Heating:
  • Central, Forced Air
  • Utilities:
  • Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing provided by Nm Apartment Advisors
  • ALBUQ