NOT LISTED FOR SALE

815 W Picard Ave Belen, NM 87002

Estimated Value: $832,584 - $1,477,000

2 Beds
1 Bath
14,480 Sq Ft
$80/Sq Ft Est. Value

Sale Details

Date Sold: December 21, 2021

Current estimated payment $7,253 / mo

70 Days on Market

About This Home

As of December 2021

New Mexico's 30,000 available and affordable home shortage coupled with the arrival of Netflix, Facebook, Intel, and Amazon is driving double digit growth in single-family home prices and rent increases, making these 20-units an excellent investment opportunity. Measure of investment performance at the current rent of $613 include a GRM of 9.17, before reserves cap rate of 6.85%, and after tax IRR of 11.30%. If rents are raised to market average of $875, measure of investment performance improve to proforma cap rate of 10.52%, and an amazing cash on cash of 21.74%.A value-add investor who commits to modest renovations and good management can reposition the property and potentially realize 20% upside.

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 07/07/2021

Co-Listed By

Michael Skolnick

Excalibur Realty & Investment License #14788

Last Buyer's Agent

Nonmls Nonmls

Non Member of SWMLS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,246

Year Built

  • Built in 1992

Lot Details

  • 14,680 Sq Ft Lot
  • Additional Parcels

Home Design

  • Frame Construction

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Additional Features

  • Property has 1 Level
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 1 007 028 110 440 000000

Community Details

Overview

  • 5 Buildings
  • 20 Units
  • Cts Subdivision

Building Details

  • Operating Expense $59,936
  • Gross Income $147,864

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,246

Year Built

Built in 1992

Lot Details

0.34 Acres

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: From ABQ south to Belen, 2nd exit, east to main, north to Picard, west to property.
  • Year Built: 1992
  • Lot Size Acres: 0.34
  • Co List Office Mls Id: EXRI01
  • Co List Office Phone: (505) 299-1300
  • Subdivision Name: CTS
  • Unit Levels: One
  • New Construction: No
  • Year Built Details: 21 - 30
  • Special Features: None

Interior Features

  • Flooring: Carpet, Tile
  • Appliances: Refrigerator
  • Stories: 1
  • Number Of Buildings: 5
  • Basement YN: No
  • Total Bedrooms: 2
  • Stories: 1

Exterior Features

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

Utilities

  • Cooling: Other, See Remarks
  • Electric: None
  • Heating: Other, See Remarks
  • Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Lot Info

  • Lot Size Sq Ft: 14679.72
  • Additional Parcels: Yes
  • Parcel #: 1 007 028 110 440 000000
  • Zoning Description: R-3

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 20
  • Annual Gross Income: 147864.0
  • Annual Operating Expense: 59936.0

Tax Info

  • Tax Annual Amount: 9246.2

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 14, 2024
Sold by
Bought by
Current Estimated Value
$1,085,860

Purchase Details

Closed on
Jun 19, 2019
Sold by
Bought by

Purchase Details

Closed on
Sep 24, 2012
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,942,200
Interest Rate
0.0361%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jul 31, 2006
Sold by
Bought by

Purchase Details

Closed on
Jun 12, 2006
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Listed On Document
-- None Available
-- Old Republic Title Co
-- None Available
$725,000 None Available
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $2,300,000
Previous Owner $1,200,000
Previous Owner $1,942,200
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/21/2021 12/21/21 Sold -- -- --
09/15/2021 09/15/21 Pending -- -- --
07/07/2021 07/07/21 For Sale $1,600,000 -- $110 / Sq Ft
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $16,657 $365,618 $43,996 $321,622
2024 $10,898 $291,458 $43,996 $247,462
2023 $10,895 $282,969 $43,996 $238,973
2022 $10,465 $282,969 $43,996 $238,973
2021 $9,365 $264,734 $45,316 $219,418
2020 $9,246 $257,024 $43,996 $213,028
2019 $9,234 $257,024 $43,996 $213,028
2018 $8,934 $251,176 $43,996 $207,180
2017 $8,625 $243,860 $43,996 $199,864
2016 $8,273 $236,757 $44,866 $191,891
2015 -- $229,862 $44,866 $184,996
2013 -- $216,667 $50,000 $166,667
2011 -- $771,624 $155,190 $616,434
Source: Public Records

Agents Affiliated with this Home

  • Todd Clarke

    Seller's Agent in 2021

    Todd Clarke

    NM Apartment Advisors, Inc.

    (505) 480-8885

    186 Total Sales

    Todd Clarke
    Section Image
  • Michael Skolnick

    Seller Co-Listing Agent in 2021

    Michael Skolnick

    Excalibur Realty & Investment

    (505) 239-8833

    86 Total Sales

    Michael Skolnick
    Section Image

  • N

    Buyer's Agent in 2021

    Nonmls Nonmls

    Non Member of SWMLS

See All Agents

Map

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

MLS Number: 996019

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-007-028-110-440-000000

New Mexico Valencia County Belen 87002

815 W Picard Ave, Belen, NM

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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