NOT LISTED FOR SALE

609 5th St SW Albuquerque, NM 87102

Barelas Neighborhood
1 Bed
1 Bath
924 Sq Ft
6,970 Sq Ft Lot

Last Sold December 14, 2022

322 Days on Market

Highlights

  • Evaporated cooling system
  • Vinyl Flooring
  • Property has 1 Level
  • Albuquerque High School Rated A-
  • Wall Furnace

About This Home

As of December 2022

The property has a street address of 609 5th SW and is on a corner lot with about 15 extra parking spaces.Measures of investment performance at ask price of $284,999 with a current average rent of $717 (a 30% increase over the former $550 rents) are a GRM of 11.63, a 5.47% cap rate before reserves, 5.23% cap rate after reserves, 17.50% before tax IRR, $95,000 per unit, and a price per sf of $308.44.If all of the unit rents are raised to the market of $875, the measure of investment performance improve to a cap rate of 6.68%, if the extra parking is leased at $50 a space a month, the cap rate increases to well over 10%! Buyer to confirm parking lot and/or extra unit potential with the City of ABQ for permissible uses.

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 12/23/2021

Co-Listed By

Paul Chavez

Earth Origins Realty LLC License #17203

Last Buyer's Agent

Paige Cochran

Keller Williams Realty License #50939

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,265

Year Built

  • Built in 1946

Lot Details

  • 6,970 Sq Ft Lot
  • Additional Parcels

Home Design

  • Triplex
  • Frame Construction

Interior Spaces

  • 924 Sq Ft Home
  • Property has 1 Level
  • Vinyl Flooring

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Utilities

  • Evaporated cooling system
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 101405709824632950

Community Details

Overview

  • 924 Sq Ft Building
  • Atlantic & Pacific Subdivision

Building Details

  • Operating Expense $8,989
  • Gross Income $18,810

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,265

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • Directions: From I-25 and Coal, west on Coal to 5th, south to property.
  • Listing Contract Date: 2021-12-23
  • Year Built: 1946
  • Lot Size Acres: 0.16
  • Co List Office Mls Id: EAOR01
  • Co List Office Phone: (505) 688-1228
  • Subdivision Name: Atlantic & Pacific
  • Unit Levels: One
  • New Construction: No
  • Year Built Details: 71 - 80
  • Property Sub Type Additional: Triplex
  • ResoBuildingAreaSource: Appraiser
  • Special Features: None

Interior Features

  • Flooring: Vinyl
  • Appliances: Refrigerator
  • Stories: 1
  • Number Of Buildings: 1
  • Accessibility Features: None
  • Basement YN: No
  • Total Bedrooms: 1
  • Living Area: 924.0
  • Stories: 1
  • ResoLivingAreaSource: Appraiser

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: Wall Furnace
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
  • Cooling Y N: Yes
  • Heating Yn: Yes

Lot Info

  • Lot Size Sq Ft: 6969.6
  • Additional Parcels: Yes
  • Parcel #: 101405709824632950
  • Zoning Description: R-1A*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 3
  • Annual Gross Income: 18810.0
  • Annual Operating Expense: 8989.0

Tax Info

  • Tax Annual Amount: 1264.54

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
12/14/2022 12/14/22 Sold -- -- --
11/10/2022 11/10/22 Pending -- -- --
07/07/2022 07/07/22 For Sale $284,999 0.0% $308 / Sq Ft
05/27/2022 05/27/22 Pending -- -- --
05/23/2022 05/23/22 Price Changed $284,999 -5.0% $308 / Sq Ft
04/12/2022 04/12/22 Price Changed $299,999 -7.7% $325 / Sq Ft
03/14/2022 03/14/22 Price Changed $325,000 -7.1% $352 / Sq Ft
12/23/2021 12/23/21 For Sale $350,000 +212.5% $379 / Sq Ft
09/09/2013 09/09/13 Sold -- -- --
08/19/2013 08/19/13 Pending -- -- --
07/29/2013 07/29/13 For Sale $112,000 -- $124 / 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 2022

    Todd Clarke

    NM Apartment Advisors, Inc.

    (505) 480-8885

    5 in this area

    224 Total Sales

    Section Image
  • Paul Chavez

    Seller Co-Listing Agent in 2022

    Paul Chavez

    Earth Origins Realty LLC

    (505) 688-1228

    1 in this area

    17 Total Sales

    Section Image
  • Paige Cochran

    Buyer's Agent in 2022

    Paige Cochran

    Keller Williams Realty

    (505) 500-2041

    1 in this area

    138 Total Sales

    Section Image

  • J

    Seller's Agent in 2013

    Joe Padilla

    JP & Associates

    (505) 259-6004

    48 Total Sales

    Section Image
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Map

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

MLS Number: 1006361

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-014-057-098-246-3-29-50

New Mexico Bernalillo County Albuquerque 87102 Barelas

609 5th St SW, Albuquerque, NM

This home is located at 609 5th St SW, Albuquerque, NM 87102 since 23 December 2021. This property was built in 1946. 609 5th St SW is a home located in Bernalillo County with nearby schools including Washington Middle School, Albuquerque High School, and Amy Biehl Charter 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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