NOT LISTED FOR SALE

403 San Felipe St NW Albuquerque, NM 87104

West Old Town Neighborhood
2 Beds
2 Baths
2,227 Sq Ft
10,515 Sq Ft Lot

Last Sold July 21, 2023

69 Days on Market

Highlights

  • Wood Flooring
  • Ductless Heating Or Cooling System
  • Property has 1 Level
  • Albuquerque High School Rated A-
  • Floor Furnace
  • 2-minute walk to Old Town Plaza

About This Home

As of July 2023

This investment opportunity, located in Historic Old Town, is a three-unit mixed-use income property with a target IRR of 20.49% and capitalization rate of 5.71% at full optimization. The current owner has made significant repairs, including installing a new roof, fixing the plumbing, sewer, and electrical systems, adding a concrete slab foundation in one unit, repairing framing, sheetrock, and flooring, and installing new air conditioning systems. The property also offers off-street parking for up to 9 vehicles and a detached garage that can be used for parking or commercial purposes. The primary building is a charming adobe home with two bedrooms and two living areas that can also be used as retail or office space. Also included is a duplex building with a studio and 1 bedroom apartment.

Last Agent to Sell the Property

Christopher Newman

KW Commercial License #REC20240776 Listed on: 01/19/2023

KW Commercial

Co-Listed By

Marcos Espinoza

The M Real Estate Group License #51371

Last Buyer's Agent

Patricia Bartolotta

Re/Max Alliance, REALTORS License #33994

Re/Max Alliance, REALTORS

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $8,410

Year Built

  • Built in 1946

Lot Details

  • 10,515 Sq Ft Lot
  • Zoning described as MX-T*

Parking

  • 9 Parking Spaces

Home Design

  • Frame Construction
  • Stucco
  • Adobe

Interior Spaces

  • 2,227 Sq Ft Home
  • Property has 1 Level
  • Free-Standing Gas Range
  • Washer and Dryer Hookup

Flooring

  • Wood
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Utilities

  • Ductless Heating Or Cooling System
  • Evaporated cooling system
  • Refrigerated Cooling System
  • Floor Furnace
  • Wall Furnace
  • Natural Gas Connected

Community Details

  • 3 Units
  • Manager's Unit

Listing and Financial Details

  • Assessor Parcel Number 101305815037721609

Home Details

Home Type

Single Family

Est. Annual Taxes

$8,410

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Directions: From I-40 and Rio Grande Blvd NW: South on Rio Grande to S Plaza St NW. Left on S Plaza to San Felipe St NW. Left on San Felipe to property on left.
  • Listing Contract Date: 2022-12-13
  • Year Built: 1946
  • Lot Size Acres: 0.24
  • Co List Office Mls Id: NAPP03
  • Co List Office Phone: (505) 247-1002
  • Unit Levels: One
  • New Construction: No
  • Structure Type: House
  • ResoBuildingAreaSource: Plans
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Flooring: Tile, Vinyl, Wood
  • Appliances: Free-Standing Gas Range, Refrigerator
  • Stories: 1
  • Number Of Buildings: 2
  • Basement YN: No
  • Total Bedrooms: 2
  • Living Area: 2227.0
  • ResoLivingAreaSource: Plans

Exterior Features

  • Disclosures: Lead Based Paint Disclosure, RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Adobe, Frame, Stucco
  • Property Condition: Resale

Garage/Parking

  • Total Parking Spaces: 9.0

Utilities

  • Cooling: Ductless, Evaporative Cooling, Refrigerated
  • Electric: None
  • Heating: Ductless, Floor Furnace, Wall Furnace
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry Features: Washer Hookup, Dryer Hookup, ElectricDryer Hookup
  • Cooling Y N: Yes
  • Heating Yn: Yes

Lot Info

  • Lot Size Sq Ft: 10515.0
  • Parcel #: 101305815037721609
  • Zoning Description: MX-T*

Rental Info

  • Tenant Pays: None

Multi Family

  • Number Of Units Total: 3
  • Annual Gross Income: 53400.0
  • Annual Operating Expense: 21209.0

Tax Info

  • Tax Annual Amount: 8410.48

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 Change Sq Ft Price
07/21/2023 07/21/23 Sold -- -- --
03/30/2023 03/30/23 Pending -- -- --
03/06/2023 03/06/23 For Sale $750,000 0.0% $337 / Sq Ft
03/06/2023 03/06/23 Price Changed $750,000 -5.1% $337 / Sq Ft
03/04/2023 03/04/23 Pending -- -- --
01/19/2023 01/19/23 For Sale $790,000 +31.7% $355 / Sq Ft
12/01/2020 12/01/20 Sold -- -- --
10/27/2020 10/27/20 Pending -- -- --
08/11/2020 08/11/20 For Sale $599,900 -- $261 / Sq Ft
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Christopher Newman

    Seller's Agent in 2023

    Christopher Newman

    KW Commercial

    (505) 482-2110

    1 in this area

    77 Total Sales

    Christopher Newman
    Section Image

  • M

    Seller Co-Listing Agent in 2023

    Marcos Espinoza

    The M Real Estate Group

    (505) 550-7877

    2 in this area

    55 Total Sales

    Marcos Espinoza
    Section Image
  • Patricia Bartolotta

    Buyer's Agent in 2023

    Patricia Bartolotta

    RE/MAX

    (505) 263-9545

    1 in this area

    153 Total Sales

    Patricia Bartolotta
    Section Image

  • E

    Buyer Co-Listing Agent in 2023

    Edwin Quintana

    RE/MAX

    (505) 710-7725

    1 in this area

    126 Total Sales

    Edwin Quintana
    Section Image
  • Maria Martinez

    Seller's Agent in 2020

    Maria Martinez

    Coldwell Banker Legacy

    (505) 379-5698

    3 in this area

    96 Total Sales

    Maria Martinez
    Section Image
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Map

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

MLS Number: 1028365

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-013-058-150-377-2-16-09

New Mexico Bernalillo County Albuquerque 87104 West Old Town

403 San Felipe St NW, Albuquerque, NM

This home is located at 403 San Felipe St NW, Albuquerque, NM 87104 since 19 January 2023. This property was built in 1946. 403 San Felipe St NW is a home located in Bernalillo County with nearby schools including Reginald Chavez Elementary, Washington 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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