NOT LISTED FOR SALE

5900 Marble Ave NE Albuquerque, NM 87110

Fairgrounds Neighborhood
-- Bed
1 Bath
18,312 Sq Ft
0.78 Acres

Last Sold September 19, 2023

21 Days on Market

Highlights

  • 0.78 Acre Lot
  • Landscaped
  • CRI Green Label Plus Certified Carpet
  • Evaporated cooling system
  • Forced Air Heating System

About This Home

As of September 2023

Located halfway between UNM and Uptown at 5900 Marble NE, this 24 unit offers the rare opportunity to acquire an investment property that is 36% under market rents.The property has spacious unit floorplans with unique architectural details including kiva fireplaces and a unit mix containing one studio apartment, 22 one bedroom /one bathroom units and a large 2 bedroom / 1 bathroom casita.At the current average rents of $704, and an ask price of $1,360,00 the measures of investment performance include a price per unit of $56,667, price per square foot of $74.32, a GRM of 6.71, an after reserves cap rate of 6.32%, and an after-tax IRR of 19.59%. If rents are raised to the market average of $1,051 and RUBS is implemented, the measures of investment performance improve cap 15.74%

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 06/29/2023

Last Buyer's Agent

Addie Filiatrault

Keller Williams Realty License #51027

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,020

Year Built

  • Built in 1968

Lot Details

  • 0.78 Acre Lot
  • Landscaped
  • Additional Parcels

Home Design

  • Frame Construction

Interior Spaces

  • 1 Bathroom
  • 18,312 Sq Ft Home
  • Property has 2 Levels

Flooring

  • CRI Green Label Plus Certified Carpet
  • Vinyl

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 101805816406730715

Community Details

Overview

  • 24 Units
  • 18,312 Sq Ft Building
  • Puebloalto Addition Subdivision

Building Details

  • Operating Expense $106,672
  • Gross Income $192,557

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,020

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: From I-40 and San Mateo south to Marble, East to property.
  • Listing Contract Date: 2023-06-29
  • Year Built: 1968
  • Lot Size Acres: 0.78
  • Subdivision Name: PuebloAlto Addition
  • Unit Levels: Two
  • New Construction: No
  • ResoBuildingAreaSource: Plans
  • Special Features: None

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances: Refrigerator
  • Stories: 2
  • Number Of Buildings: 2
  • Accessibility Features: None
  • Basement YN: No
  • Living Area: 18312.0
  • Stories: 2
  • ResoLivingAreaSource: Plans

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
  • 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: 33976.8
  • Additional Parcels: Yes
  • Parcel #: 101805816406730715
  • Zoning Description: R-ML*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 24
  • Annual Gross Income: 192557.0
  • Annual Operating Expense: 106672.0

Tax Info

  • Tax Annual Amount: 12020.04

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
09/19/2023 09/19/23 Sold -- -- --
07/21/2023 07/21/23 Pending -- -- --
06/29/2023 06/29/23 For Sale $1,360,000 -- $74 / 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

    13 in this area

    225 Total Sales

    Todd Clarke
    Section Image

  • A

    Buyer's Agent in 2023

    Addie Filiatrault

    Keller Williams Realty

    (505) 377-1010

    1 in this area

    18 Total Sales

    Addie Filiatrault
    Section Image
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Map

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

MLS Number: 1037093

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-018-058-164-067-3-07-15

New Mexico Bernalillo County Albuquerque 87110 Fairgrounds

5900 Marble Ave NE, Albuquerque, NM

This home is located at 5900 Marble Ave NE, Albuquerque, NM 87110 since 29 June 2023. This property was built in 1968. 5900 Marble Ave NE is a home located in Bernalillo County with nearby schools including Mark Twain Elementary School, Hayes 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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