Measures of invest performance at the ask price of $1,955,736 and average current rents of $828 per unit, per month, include a GRM of 9.84, 5.01% cap rate and an after tax internal rate of return of 18.5%.If rents are moved to 80% of area median income, and an average of $1,248, measures of investment performance improve to a cap rate of 9.35%, and a cash on cash of 17.11%.The owner, Ventana Fund, is a non-profit CDFI and loan fund that specializes in the creation/preservation of affordable housing and is willing to offer financing with an initial interest rate of 3.95% , 30 year amortization, 5 year call, at 70% loan to value, with a list price offer. Financing would be subject to restrictions on allowable rents and resident income.Recent appraisal at $2.03M
Sold
Price Unknown
924 Valencia Dr SE, Albuquerque, NM 87108
3beds
2baths
17,600sqft
Multi Family
Built in 2000
-- sqft lot
$-- Zestimate®
$--/sqft
$1,188 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,188/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Todd D Clarke 505-440-8633,
NM Apartment Advisors, Inc.
Bought with:
Nonmls Nonmls
Non Member of SWMLS
Source: SWMLS,MLS#: 1038616
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
Heating
- Heat Pump
Cooling
- Central Air
Appliances
- Included: Refrigerator
Features
- Flooring: Carpet, Tile
- Has basement: No
Interior area
- Total structure area: 17,600
- Total interior livable area: 17,600 sqft
Property
Parking
- Total spaces: 24
Accessibility
- Accessibility features: Wheelchair Access
Features
- Levels: Two
- Stories: 2
- Exterior features: Landscaping
Lot
- Size: 0.77 Acres
Details
- Has additional parcels: Yes
- Parcel number: 101805617321832501
- Zoning description: R-MH*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick Veneer, Frame
Condition
- Resale
- New construction: No
- Year built: 2000
Details
- Builder name: Erickson
Utilities & green energy
- Utilities for property: Cable Connected, Electricity Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Subdivision: Virginia Place Addition
Location
- Region: Albuquerque
Financial & listing details
- Tax assessed value: $963,771
- Annual tax amount: $13,264
- Date on market: 7/25/2023
- Cumulative days on market: 9 days
- Listing terms: Cash,Conventional,Owner May Carry
- Tenant pays: Other, See Remarks
Price history
| Date | Event | Price |
|---|---|---|
| 9/29/2023 | Sold | -- |
Source:  SWMLS #1038616 Report a problem | ||
| 8/3/2023 | Pending sale | $1,955,736$111/sqft |
Source: SWMLS #1038616 Report a problem | ||
| 7/26/2023 | Listed for sale | $1,955,736+31.2%$111/sqft |
Source: SWMLS #1038616 Report a problem | ||
| 11/8/2019 | Listing removed | $650 |
Source: GDR Property Solutions, LLC #952158 Report a problem | ||
| 8/20/2019 | Listed for rent | $650 |
Source: GDR Property Solutions, LLC #952158 Report a problem | ||
| 12/28/2018 | Sold | -- |
Source: SWMLS #926970 Report a problem | ||
| 12/22/2018 | Pending sale | $1,490,240$85/sqft |
Source: NM Apartment Advisors, Inc. #926970 Report a problem | ||
| 11/8/2018 | Listed for sale | $1,490,240$85/sqft |
Source: NM Apartment Advisors, Inc. #926970 Report a problem | ||
| 9/11/2018 | Pending sale | $1,490,240$85/sqft |
Source: NM Apartment Advisors, Inc. #926970 Report a problem | ||
| 8/24/2018 | Listed for sale | $1,490,240$85/sqft |
Source: NM Apartment Advisors, Inc. #926970 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,573 +0.1% | $321,225 |
| 2024 | $13,553 -1.3% | $321,225 |
| 2023 | $13,727 +107% | $321,225 +3% |
| 2022 | $6,632 -49.8% | $311,869 |
| 2021 | $13,204 -2.5% | $311,869 -1.2% |
| 2020 | $13,542 | $315,702 -2.5% |
| 2019 | -- | $323,767 |
| 2018 | $10,001 -8.4% | $323,767 +26.3% |
| 2017 | $10,916 +6.2% | $256,252 +6.1% |
| 2016 | $10,276 -95.6% | $241,542 +3% |
| 2015 | $234,508 +2325.7% | $234,508 +3% |
| 2014 | $9,668 | $227,677 -26.3% |
| 2013 | $9,668 | $308,903 +3% |
| 2012 | -- | $299,906 0% |
| 2011 | -- | $299,970 |
| 2010 | -- | $299,970 -10.4% |
| 2009 | -- | $334,908 +3% |
| 2008 | -- | $325,154 +3% |
| 2007 | -- | $315,683 +3% |
| 2006 | -- | $306,489 +3% |
| 2005 | -- | $297,562 |
| 2004 | -- | $297,562 |
| 2003 | -- | $297,562 |
| 2002 | -- | $297,562 -12.1% |
| 2001 | -- | $338,599 |
Find assessor info on the county website
Neighborhood: South San Pedro
Nearby homes
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Nearby schools
GreatSchools rating
- 4/10Whittier Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 3/10Wilson Middle SchoolGrades: 6-8Distance: 0.2 mi
- 2/10Highland High SchoolGrades: 9-12Distance: 1 mi
- New Mexico
- Bernalillo County
- Albuquerque
- 87108
- South San Pedro
- 924 Valencia Dr SE
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