623 Madison Street NE
Albuquerque, NM 87110
MLS #904955

Multi-family
  • 3units
$420,014
Est. P&I payment: $1604.17/mo
623 Madison Street NE, Albuquerque, NM 87110
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 1
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 2
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 3
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 4
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 5
  • 623 Madison Street NE, Albuquerque, NM 87110 Photo 6
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Description for 623 Madison Street NE, Albuquerque, NM 87110
Amazing gem of duplex located just east of UNM, north of Nob-Hill and within walking distance of the Sprouts supermarket and short hop to Los Cuates and its world famous sweet and hot salsa! Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50's. This property was built in 1996, and includes triplex and a two car garage.Measurements of investment performance based on actual average rents of $908 per unit, 5.10% CAP rate, 12.00% before tax IRR, and 9.20% after tax. Based on a market rent of $950 per unit+$75 a month garage rent, the measure of investment performance improves to a 6.70% Cap (before reserves) AND A 25.10% after tax IRR.Ideal for the owner occupant or investor.
MLS #904955
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My Notes for MLS #904955

General Features

  • Property Type: C
  • Units for Sale: 3
  • Approx Structured SqFt: 3,100
  • Year Built: 2010
  • Total Number of Stories: 1
  • Total Number of Buildings: 1
  • Stories: 1
  • Property Sub-Type: Triplex
  • 5+ Units: No
  • Age: 7 - 9
  • Number of Units: 3
  • Lot SqFt: 6,752
  • Zoning: R-2

Exterior Features

  • Number of Parking Spaces: 3
  • Exterior Material: Stucco

Interior Features

  • Basement: Basement: No
  • Unit Type 1: Number of Units: 1
  • Unit Type 1: Number of Bedrooms: 2
  • Unit Type 1: Number Baths: 2
  • Unit Type 1: Average SqFt: 1,500
  • Unit Type 2: Number of Units: 1
  • Unit Type 2: Number of Bedrooms: 1
  • Unit Type 2: Number Baths: 1
  • Unit Type 2: Average SqFt: 800
  • Unit Type 3: Number of Units: 1
  • Unit Type 3: Number of Bedrooms: 1
  • Unit Type 3: Number Baths: 1
  • Unit Type 3: Average SqFt: 800
  • Unit Summary: Total Units: 3
  • Unit Summary: Average Unit Size: 1,033
  • Unit Summary: Average Actual Rent: 908
  • Unit Summary: Annualized: 32,700
  • Flooring: See Remarks

Utility Features

  • Amenities: Owners Unit,​Walled Complex
  • Appliances included: Refrigerator
  • Cooling: Evaporative
  • Heating: Gas
  • Utilities: All City

Financial Features

  • Approximate Taxes: 3,294
  • List Price/SqFt: 135
  • Foreclosure: No
  • Unit Type 1: Average Actual Rent: 1,000
  • Unit Type 1: Max Rent: 950
  • Unit Type 1: Market Rent: 950
  • Unit Type 2: Average Actual Rent: 850
  • Unit Type 2: Max Rent: 950
  • Unit Type 2: Market Rent: 950
  • Unit Type 3: Average Actual Rent: 875
  • Unit Type 3: Max Rent: 950
  • Unit Type 3: Market Rent: 950
  • Unit Summary: Total Actual Rent: 2,725
  • Finance Considered: Cash,​Conventional,​FHA,​VA
  • Owner Pays: Other - See Remarks
  • Tenant Pays: Other - See Remarks

Community Features

  • Subdivision: New Year Addition

Miscellaneous Features

  • Disability Access: Unknown
  • Lead Base Paint: No
  • Construction: Frame

Location

 
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Directions to 623 Madison Street NE, Albuquerque, NM 87110
From I-40 & Carlisle - south to Lomas, east to Madison, north to property.
The listing information for 623 Madison Street NE, Albuquerque, NM 87110 was graciously provided by our friends at the listing brokerage, NM Apartment Advisors, Inc.

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P&I Payment $1604.17
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on Southwest Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. Southwest Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 02/19/2018 at 4:57am
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