1100 Palomas Dr SE Albuquerque, NM 87108
South San Pedro NeighborhoodEstimated payment $5,673/month
Highlights
- 0.56 Acre Lot
- Forced Air Heating and Cooling System
- Property has 1 Level
- Landscaped
- Vinyl Flooring
About This Home
Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,587
Year Built
- Built in 1955
Lot Details
- 0.56 Acre Lot
- Landscaped
- Additional Parcels
Home Design
- Frame Construction
- Stucco
Interior Spaces
- 7,720 Sq Ft Home
- Property has 1 Level
- Vinyl Flooring
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Utilities
- Forced Air Heating and Cooling System
- Natural Gas Connected
Listing and Financial Details
- Assessor Parcel Number 101805610818831610
Community Details
Overview
- 10 Units
- 7,720 Sq Ft Building
- Lots 1, 2 & 3 Block 12, Virginia Addition Subdivision
Building Details
- Operating Expense $38,887
- Gross Income $91,850
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/12/2025 02/12/25 | For Sale | $963,138 | 0.0% | $125 / Sq Ft |
| 01/22/2025 01/22/25 | Pending | -- | -- | -- |
| 06/21/2024 06/21/24 | Price Changed | $963,138 | +4.1% | $125 / Sq Ft |
| 04/26/2023 04/26/23 | For Sale | $925,488 | -- | $120 / Sq Ft |
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)
MLS Number: 1033316
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