$6,995,000
3308 Fourth St, Albuquerque, NM 87107
1 Beds
1 Baths
65,072 sqft

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Located in the heart of the north valley along Albuquerque's original Route 66 and at 3308 Fourth NW, this brand-new construction apartment community offers an amazing chance to own an investment property in an underserved sub-market. The property offers two full floors of covered parking, elevator service, common trash chutes, community library area, and units with w/d hookups, granite counter tops, plank flooring, walk-in closets and upgraded unit finishes.I also have additional good news - the property has outperformed its original proforma and is obtaining rents of $1,052 per unit - which improves the cap rate to 6.21% before reserves, 6.04% after. Recent financing quote obtained indicates a 13.19% cash on cash is possible in year 1!
  • Price:
  • $6,995,000
  • Bedrooms:
  • 1
  • Square Footage:
  • 65,072
  • Acreage:
  • 0.72
  • Year Built:
  • 2019
  • Listing ID #:
  • 954338
  • Street Address:
  • 3308 Fourth St
  • City:
  • Albuquerque
  • State:
  • New Mexico
  • Postal Code:
  • 87107
  • County:
  • Bernalillo
  • Community:
  • 101 - Near North Valley
  • Subdivision:
  • Gentry Add
  • Listing Status:
  • Pending
  • Approximate Total Liveable Area:
  • 65072
  • Builder:
  • J&s Development
  • Building Condition:
  • New Construction
  • Construction Description:
  • Frame, Masonry
  • Ease Of Access:
  • Wheelchair Access
  • Flooring:
  • Vinyl
  • New Construction:
  • 1
  • Number Of Units:
  • 53
  • Total # Of Buildings:
  • 1
  • Total Building Square Footage:
  • 65072
  • Year Built:
  • 2019
  • Approximate Lot Size Range Source:
  • Public Records
  • Lot Square Footage:
  • 31363
  • Zoning Description:
  • Mx-T*
  • Days On Market:
  • 223
  • Originating Mls:
  • Swmls
  • Terms:
  • Cash, Conventional
  • Property Taxes:
  • $2,772
  • Tenant Pays:
  • Other, See Remarks
  • Laundry:
  • Washer Hookup
  • Appliances:
  • Refrigerator
  • Cooling System:
  • Central Air
  • Has Central Air Conditioning:
  • 1
  • Heating:
  • Electric
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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

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