NOT LISTED FOR SALE

3410 Thaxton Ave SE Albuquerque, NM 87106

Southeast Heights Neighborhood
2 Beds
1 Bath
21,420 Sq Ft
6,098 Sq Ft Lot

Last Sold September 29, 2023

422 Days on Market

Highlights

  • Evaporated cooling system
  • Landscaped
  • Carpet
  • Albuquerque High School Rated A-
  • Forced Air Heating System
  • 3-minute walk to Puerto Del Sol

About This Home

As of September 2023

8 unit portfolio of seven fourplexes, owned by the same family for over 25 years. Located at 3410, 3414, 3418 , 3422, 3430, 3430 and 3438 Thaxton SE, this community is served by all of the new employment and restaurants along the Gibson/Airport corridor.This value-add asset is ripe for an investor looking to reposition an asset. Full inspection reports are now available and the new price reflects the work that could be done by the next owner.As the ask price of $2,445,000 and with an average rent of $723, the measures of investment performance include $87,123 per unit, $114.15 per square foot, a before reserves cap rates of 6.10%, and an after tax IRR of 13.60%.If rents are moved to market of $1,050, measure of investment performance improve to a cap rate of 10.02%.

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 05/02/2022

Last Buyer's Agent

Kyle Deacon

Deacon Property Services License #15579

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,886

Year Built

  • Built in 1963

Lot Details

  • 6,098 Sq Ft Lot
  • Landscaped
  • Additional Parcels

Home Design

  • Frame Construction

Interior Spaces

  • 21,420 Sq Ft Home
  • Property has 1 Level
  • Washer Hookup

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Utilities

  • Evaporated cooling system
  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 101605642115841016

Community Details

Overview

  • 28 Units
  • 21,420 Sq Ft Building
  • Knob Heights Subdivision

Building Details

  • Operating Expense $82,577
  • Gross Income $233,417

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,886

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: From I-25 and Gibson, east on Gibson, North to Carlisle, north to Thaxton, west to property.
  • Listing Contract Date: 2022-05-01
  • Year Built: 1963
  • Lot Size Acres: 0.14
  • Subdivision Name: Knob Heights
  • Unit Levels: One
  • New Construction: No
  • Year Built Details: 51 - 60
  • Special Features: None

Interior Features

  • Flooring: Carpet, Vinyl
  • Stories: 1
  • Number Of Buildings: 7
  • Basement YN: No
  • Total Bedrooms: 2
  • Living Area: 21420.0
  • Stories: 1

Exterior Features

  • Exterior Features: Landscaping
  • Disclosures: Lead Based Paint Disclosure, RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Frame
  • Property Condition: Resale

Utilities

  • Cooling: Evaporative Cooling
  • Electric: None
  • Heating: Central, Forced Air
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Laundry Features: Washer Hookup
  • Cooling Y N: Yes
  • Heating Yn: Yes

Lot Info

  • Lot Size Sq Ft: 6098.4
  • Additional Parcels: Yes
  • Parcel #: 101605642115841016
  • Zoning Description: R-MH*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 28
  • Annual Gross Income: 233417.0
  • Annual Operating Expense: 82577.0

Tax Info

  • Tax Annual Amount: 1885.84

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/29/2023 09/29/23 Sold -- -- --
06/29/2023 06/29/23 Pending -- -- --
03/31/2023 03/31/23 For Sale $2,445,000 0.0% $114 / Sq Ft
03/31/2023 03/31/23 Price Changed $2,445,000 -2.0% $114 / Sq Ft
12/02/2022 12/02/22 Pending -- -- --
11/03/2022 11/03/22 Price Changed $2,495,000 -10.4% $116 / Sq Ft
09/27/2022 09/27/22 For Sale $2,784,448 0.0% $130 / Sq Ft
09/01/2022 09/01/22 Pending -- -- --
05/02/2022 05/02/22 For Sale $2,784,448 -- $130 / Sq Ft
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Todd Clarke

    Seller's Agent in 2023

    Todd Clarke

    NM Apartment Advisors, Inc.

    (505) 480-8885

    7 in this area

    227 Total Sales

    Todd Clarke
    Section Image

  • K

    Buyer's Agent in 2023

    Kyle Deacon

    Deacon Property Services

    (505) 878-0100

    11 in this area

    167 Total Sales

    Kyle Deacon
    Section Image
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Map

Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

MLS Number: 1013743

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-016-056-421-158-4-10-16

New Mexico Bernalillo County Albuquerque 87106 Southeast Heights

3410 Thaxton Ave SE, Albuquerque, NM

This home is located at 3410 Thaxton Ave SE, Albuquerque, NM 87106 since 02 May 2022. This property was built in 1963. 3410 Thaxton Ave SE is a home located in Bernalillo County with nearby schools including Kirtland Elementary School, Wilson Middle School, and Albuquerque High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwest MLS (Greater Albuquerque Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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