NOT LISTED FOR SALE

512 Ash St SE Albuquerque, NM 87106

Silver Hill Neighborhood
1 Bed
1 Bath
3,504 Sq Ft
6,970 Sq Ft Lot

Last Sold October 27, 2023

311 Days on Market

Highlights

  • Evaporated cooling system
  • Forced Air Heating System
  • 3-minute walk to Roosevelt Park
  • Monte Vista Elementary School Rated A-
  • Vinyl Flooring

About This Home

As of October 2023

Can be sold with 1117 Girard SE for a total of 16 units.Located near Roosevelt Park, this eight-plex contains all 1 bedroom units are updated with solid surface flooring (no carpet) and unique, custom finishes in each apartment. Other recent upgrades include thermal windows, a new roof, and new exterior paint. Enjoy a smooth operating, quality core asset located in a 5 star, high demand neighborhood.With an average rent of $783, and at starting ask price of $687,483 the measures of investment performance include $85,935 per unit, $196 per square foot, a before reserves cap rates of 7.00%, and an after tax IRR of 18.80%.If rents are moved to market of $950, measure of investment performance improve to a cap 8.78%

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 11/10/2022

Co-Listed By

Kyle Deacon

Deacon Property Services License #15579

Last Buyer's Agent

Kyle Deacon

Deacon Property Services License #15579

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,521

Year Built

  • Built in 1972

Lot Details

  • 6,970 Sq Ft Lot
  • Additional Parcels

Home Design

  • Frame Construction

Interior Spaces

  • 3,504 Sq Ft Home
  • Property has 2 Levels
  • Vinyl Flooring

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 101505750115040810

Community Details

Overview

  • 3,504 Sq Ft Building
  • Terrace Addition Subdivision

Building Details

  • Operating Expense $47,375
  • Gross Income $66,576

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,521

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: From I-25 and Coal, east to Ash, south to property.
  • Listing Contract Date: 2022-11-10
  • Year Built: 1972
  • Lot Size Acres: 0.16
  • Co List Office Mls Id: DEAC01
  • Co List Office Phone: (505) 878-0100
  • Subdivision Name: Terrace Addition
  • Unit Levels: Two
  • New Construction: No
  • Year Built Details: 41 - 50
  • Special Features: VirtualTour

Interior Features

  • Flooring: Vinyl
  • Appliances: Refrigerator
  • Stories: 2
  • Number Of Buildings: 1
  • Basement YN: No
  • Total Bedrooms: 1
  • Living Area: 3504.0
  • Stories: 2

Exterior Features

  • 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, Natural Gas Connected, Phone 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 #: 101505750115040810
  • Zoning Description: R-ML*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 66576.0
  • Annual Operating Expense: 47375.0

Tax Info

  • Tax Annual Amount: 1521.16

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
10/27/2023 10/27/23 Sold -- -- --
09/18/2023 09/18/23 Pending -- -- --
08/26/2023 08/26/23 Price Changed $687,483 -18.1% $196 / Sq Ft
02/07/2023 02/07/23 For Sale $839,573 0.0% $240 / Sq Ft
01/12/2023 01/12/23 Pending -- -- --
11/10/2022 11/10/22 For Sale $839,573 -- $240 / 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

    12 in this area

    228 Total Sales

    Todd Clarke
    Section Image

  • K

    Seller Co-Listing Agent in 2023

    Kyle Deacon

    Deacon Property Services

    (505) 878-0100

    9 in this area

    168 Total Sales

    Kyle Deacon
    Section Image
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Map

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

MLS Number: 1025613

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-015-057-501-150-4-08-10

New Mexico Bernalillo County Albuquerque 87106 Silver Hill

512 Ash St SE, Albuquerque, NM

This home is located at 512 Ash St SE, Albuquerque, NM 87106 since 10 November 2022. This property was built in 1972. 512 Ash St SE is a home located in Bernalillo County with nearby schools including Monte Vista Elementary School, Jefferson 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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