Address
420 Columbia Drive SE Albuquerque, NM
Price
$ 512,500
Property Attributes
  • MLS#983152
  • TypeMulti-Family
  • CountyBERNALILLO
  • CityAlbuquerque
  • AreaUNM South
  • NeighborhoodUniversity Heights
  • Zip87106
  • StyleMulti Family
  • Price$ 512,500
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage3765
  • Lot Size7,100 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Data Source:
Southwest Multiple Listing Service
Property Description

The property is walking distance to UNM and CNM, and has good walk (75), bike (93), and transit (46) scores. (Did you know? Market trends demonstrate that high walk, bike or transit scores translates to 25% higher rents). The front houses have hardwood floors and speak to the quality workmanship of an 80 year old residence. The rear triplex are of newer construction, and contain two story townhouse style one bedroom units with decks that overlook the Sandia mountains. At the ask price of $500,000 and an average rent of $837 (up from $777 in 2018) the measure of investment performance include a GRM of 9.96, a CAP rate of 6.26%, a price per unit of $100,000, a price per square foot of $132.80 and an after-tax IRR of 14.30%.

Price History
12/31/2020 Listed $492,500

General Features

Appliances Refrigerator
Construction Materials Frame
Cooling None
Electric None
Flooring Wood
Heating None
Levels Two
Listing Agent State License 13711
MLS Area 42 - UNM South
Property SubType Multi Family
Property Type Residential Income
PropertyCondition Resale
Stories 2
Subdivision Name University Heights
Terms Cash, Conventional
Total Units 5
Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
Virtual Tour http://www.nmapartment.com420columbia3d2
Zoning Description R-T*

Interior Features

Living Area 3765
Total Baths 1
Total Bedrooms 2

Exterior Features

Lot Size Acres 0.16
Lot Size Source Public Records
Lot Size Square Feet 7100
Number of Buildings 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 87106

Price
AVG $860K
$510K
Visits
AVG 52
79
Year Built
AVG 1961
1940
Walkscore
AVG 67
75
Data Provided by Walkscore ® not using MLS data

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