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Buy a multi-family propertyat 1014 Arno (1014 1/2) Street NE, Albuquerque, NM 87102

$175,000

$0/mo

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Multifamily

1,400 Sq. Ft.

3,049 Sq. Ft. lot

663 Days on market

1017994 MLS ID

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About 1014 Arno (1014 1/2) Street NE multi-family property

The residence contains three bedrooms + an office, two bathrooms and a long-term resident has just moved out making this ideal for a renovation/rehab buyer. Once renovated, market rent for the unit is closer to $1,500, but the major play on this property is the redevelopment opportunity and ability to add additional residential units. Based on a R-T zoning, and the ease of access to a street in 3 different directions, it seems likely the property could support an additional 4 units. The listing broker valued the extra land at $25,000 per unit and the main residence at $200,000 for a total price of $300,000, but the seller is motivated $175,000.
The residence contains three bedrooms + an office, two bathrooms and a long-term resident has just moved out making this ideal for a renovation/rehab buyer. Once renovated, market rent for the unit is closer to $1,500, but the major play on this property is the redevelopment opportunity and ability to add additional residential units. Based on a R-T zoning, and the ease of access to a street in 3 different directions, it seems likely the property could support an additional 4 units. The listing broker valued the extra land at $25,000 per unit and the main residence at $200,000 for a total price of $300,000, but the seller is motivated $175,000.

Property details

Appliances and Equipment

Refrigerator

Bathrooms

2 total bathrooms

Bedrooms

3 total bedrooms

House

1 total stories

Built in 1936

Stories: 1

1,400 sqft living area

1400 total building sqft

Frame

One

House

Cooling

Evaporative Cooling

Disclosures

Lead Based Paint Disclosure

RANM 2100 Disclosure

Floors

Tile

Heating

Central

Forced Air

Listing

319 days on market

Listed on 2022-06-30

Location

County: Bernalillo

Subdivision: MRGCD Map 37

Lot

3049.2 sqft

0.07 acres

Property

Single building

Single unit

Resale

Taxes

Annual Amount: $913

Tenant Pays

See Remarks

Utilities

Electricity Connected

Natural Gas Connected

Sewer Connected

Water Connected

Monthly cost

Estimated monthly cost

$1,121/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$164,500

+$5,250

$169,750

Seller agent commission$5,250 (3%)*

$0 (0%)

Buyer agent commission$5,250 (3%)*

$5,250 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

Get $5,250 more selling your home
with an Unreal Estate agent

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State

  • Land for sale in New Mexico
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Unreal Estate checked: Aug 8, 2023 at 4:44 p.m.

Data updated: May 17, 2023 at 4:49 p.m.

Courtesy of NM Apartment Advisors, Inc..
Some of 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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Listing Information © 2024 Greater Albuquerque Association of REALTORS®. All Rights Reserved.

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