recently renovated duplex which is located near the new Max-Q mixed-use development.The two, one bedroom, one bathroom units really pop with color, natural light and new appliances.Measures of investment performance at ask price of $224,900 and current average rent of $898 are a GRM of 10.44, a 6.30% cap rate, $112,450 per unit, $183.59/sf. If rents are raised to the market of $975, the measures of investment performance improve to a cap rate of 7.24%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks awayMove quickly to take advantage of the 2018 tax cut and jobs act as it benefits investment properties like this.
Sold
Price Unknown
516 Alvarado Dr SE #518, Albuquerque, NM 87108
2beds
2baths
1,225sqft
Duplex, Multi Family
Built in 1950
-- sqft lot
$224,200 Zestimate®
$--/sqft
$1,549 Estimated rent
Home value
$224,200
$209,000 - $244,000
$1,549/mo
Zestimate® history
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New appliancesNatural lightRenovated duplex
Zillow last checked:
Listing updated:
Listed by:
Todd D Clarke 505-440-8633,
NM Apartment Advisors, Inc.
Bought with:
Evan Sanderson, 20670
Simply Real Estate
Source: SWMLS,MLS#: 1036472
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
Heating
- Floor Furnace
Cooling
- Evaporative Cooling
Appliances
- Included: Refrigerator
Features
- Flooring: Wood
- Has basement: No
Interior area
- Total structure area: 1,225
- Total interior livable area: 1,225 sqft
Property
Features
- Levels: One
- Stories: 1
Lot
- Size: 6,969 Square Feet
Details
- Parcel number: 101805614150522915
- Zoning description: R-MH*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex, Multi Family
Materials
- Block, Frame, Stucco
Condition
- Resale
- New construction: No
- Year built: 1950
Utilities & green energy
- Electric: None
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Subdivision: Shirleys Subdivision Baron Burg Heights
Location
- Region: Albuquerque
Financial & listing details
- Annual tax amount: $1,573
- Date on market: 6/19/2023
- Cumulative days on market: 241 days
- Listing terms: Cash,Conventional,VA Loan
- Tenant pays: Other, See Remarks
Price history
| Date | Event | Price |
|---|---|---|
| 11/20/2023 | Sold | -- |
Source:  SWMLS #1036472 Report a problem | ||
| 10/29/2023 | Pending sale | $224,900$184/sqft |
Source: SWMLS #1036472 Report a problem | ||
| 6/19/2023 | Listed for sale | $224,900$184/sqft |
Source: SWMLS #1036472 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: South San Pedro
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Nearby schools
GreatSchools rating
- 4/10Whittier Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 3/10Wilson Middle SchoolGrades: 6-8Distance: 0.7 mi
- 2/10Highland High SchoolGrades: 9-12Distance: 0.6 mi
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Estimated market value
$224,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$224,200
- New Mexico
- Bernalillo County
- Albuquerque
- 87108
- South San Pedro
- 516 Alvarado Dr SE Unit 518
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