NOT LISTED FOR SALE

401 Georgia St SE Albuquerque, NM 87108

South San Pedro Neighborhood
2 Beds
1 Bath
3,032 Sq Ft
6,970 Sq Ft Lot

Last Sold April 12, 2024

82 Days on Market

Highlights

  • Evaporated cooling system
  • Tile Flooring
  • Forced Air Heating System

About This Home

As of April 2024

Seller is willing to offer financing for an owner occupant (who must move into the property) with a 5% down payment 30 year amortization, 5.75% interest rate, 7 year balloon, subject to approval of the buyers credit report, financial statement and tax returns.This fourplex contains two bedroom one bathroom units that are renting at $1,200. There are washer dryer hook-ups in each unit and the units are renovated.At the current average rents of $1,200, and an ask price of $486,614 the measures of investment performance include a price per unit of $121,654, price per square foot of $160.49, a GRM of 8.45, an after reserves cap rate of 6.65%.If rents are raised to the market average of $1,325, the measures of investment performance improve to a before reserves cap rare of 6.95%.

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 12/27/2023

Last Buyer's Agent

Michael Schlichte

Absolute Real Estate License #17987

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,128

Year Built

  • Built in 1980

Lot Details

  • 6,970 Sq Ft Lot
  • Additional Parcels

Parking

  • 6 Parking Spaces

Home Design

  • Quadruplex
  • Frame Construction

Interior Spaces

  • 3,032 Sq Ft Home
  • Property has 2 Levels
  • Dishwasher

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Utilities

  • Evaporated cooling system
  • Forced Air Heating System
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 101805641752312811

Community Details

Overview

  • 3,032 Sq Ft Building
  • Mesa Park Subdivision

Building Details

  • Operating Expense $13,626
  • Gross Income $34,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,128

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Directions: From I-40 and Louisiana south past the Ta-Lin International Market, to Zuni, east to Georgia and property
  • Listing Contract Date: 2022-07-09
  • Year Built: 1980
  • Lot Size Acres: 0.16
  • Subdivision Name: Mesa Park
  • Unit Levels: Two
  • New Construction: No
  • Property Sub Type Additional: Quadruplex
  • Special Features: None

Interior Features

  • Flooring: Carpet, Tile
  • Appliances: Dishwasher, Refrigerator
  • Stories: 2
  • Number Of Buildings: 1
  • Basement YN: No
  • Total Bedrooms: 2
  • Living Area: 3032.0
  • Stories: 2

Exterior Features

  • Disclosures: RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Frame
  • Property Condition: Resale

Garage/Parking

  • Total Parking Spaces: 6.0

Utilities

  • Cooling: Evaporative Cooling
  • Electric: None
  • Heating: Central, Forced Air
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Cooling Y N: Yes
  • Heating Yn: Yes

Green Features

  • Green Power: None

Lot Info

  • Lot Size Sq Ft: 6969.6
  • Additional Parcels: Yes
  • Parcel #: 101805641752312811
  • Zoning Description: R-ML*

Rental Info

  • Tenant Pays: None

Multi Family

  • Number Of Units Total: 4
  • Annual Gross Income: 34200.0
  • Annual Operating Expense: 13626.0

Tax Info

  • Tax Annual Amount: 2128.16

Range of Values:

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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 Change Sq Ft Price
04/12/2024 04/12/24 Sold -- -- --
03/19/2024 03/19/24 Pending -- -- --
03/08/2024 03/08/24 For Sale $486,614 0.0% $160 / Sq Ft
01/18/2024 01/18/24 Pending -- -- --
12/27/2023 12/27/23 For Sale $486,614 +51.1% $160 / Sq Ft
09/17/2022 09/17/22 Sold -- -- --
07/29/2022 07/29/22 Pending -- -- --
07/09/2022 07/09/22 For Sale $322,000 -- --
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 2024

    Todd Clarke

    NM Apartment Advisors, Inc.

    (505) 480-8885

    15 in this area

    227 Total Sales

    Todd Clarke
    Section Image
  • Michael Schlichte

    Buyer's Agent in 2024

    Michael Schlichte

    Absolute Real Estate

    (505) 318-6264

    1 in this area

    200 Total Sales

    Michael Schlichte
    Section Image
  • Joseph Maez

    Buyer's Agent in 2022

    Joseph Maez

    The Maez Group

    (505) 600-9114

    9 in this area

    1,580 Total Sales

    Joseph Maez
    Section Image
See All Agents

Map

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

MLS Number: 1054702

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-018-056-417-523-1-28-11

New Mexico Bernalillo County Albuquerque 87108 South San Pedro

401 Georgia St SE, Albuquerque, NM

This home is located at 401 Georgia St SE, Albuquerque, NM 87108 since 27 December 2023. This property was built in 1980. 401 Georgia St SE is a home located in Bernalillo County with nearby schools including Emerson Elementary School, Van Buren Middle School, and Highland 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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