NOT LISTED FOR SALE

924 Valencia Dr SE Albuquerque, NM 87108

South San Pedro Neighborhood
1 Bed
1 Bath
17,600 Sq Ft
0.77 Acres

Last Sold September 29, 2023

8 Days on Market

Highlights

  • 0.77 Acre Lot
  • Tile Flooring
  • Central Air
  • Wheelchair Access
  • Landscaped
  • Heat Pump System

About This Home

As of September 2023

Measures of invest performance at the ask price of $1,955,736 and average current rents of $828 per unit, per month, include a GRM of 9.84, 5.01% cap rate and an after tax internal rate of return of 18.5%.If rents are moved to 80% of area median income, and an average of $1,248, measures of investment performance improve to a cap rate of 9.35%, and a cash on cash of 17.11%.The owner, Ventana Fund, is a non-profit CDFI and loan fund that specializes in the creation/preservation of affordable housing and is willing to offer financing with an initial interest rate of 3.95% , 30 year amortization, 5 year call, at 70% loan to value, with a list price offer. Financing would be subject to restrictions on allowable rents and resident income.Recent appraisal at $2.03M

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 07/25/2023

Last Buyer's Agent

Nonmls Nonmls

Non Member of SWMLS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,265

Year Built

  • Built in 2000

Lot Details

  • 0.77 Acre Lot
  • Landscaped
  • Additional Parcels

Parking

  • 24 Parking Spaces

Home Design

  • Frame Construction

Interior Spaces

  • 17,600 Sq Ft Home
  • Property has 2 Levels

Flooring

  • CRI Green Label Plus Certified Carpet
  • Tile

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Accessible Home Design

  • Wheelchair Access

Utilities

  • Central Air
  • Heat Pump System
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 101805617321832501

Community Details

Overview

  • 20 Units
  • 17,600 Sq Ft Building
  • Built by Erickson
  • Virginia Place Addition Subdivision

Building Details

  • Operating Expense $104,447
  • Gross Income $197,999

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,265

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: From I-25 and Gibson, east to Valencia and north to property.
  • Listing Contract Date: 2023-07-25
  • Year Built: 2000
  • Lot Size Acres: 0.77
  • Subdivision Name: Virginia Place Addition
  • Unit Levels: Two
  • New Construction: No
  • Year Built Details: 21 - 30
  • Special Features: None

Interior Features

  • Flooring: Carpet, Tile
  • Appliances: Refrigerator
  • Stories: 2
  • Number Of Buildings: 2
  • Accessibility Features: Wheelchair Access
  • Basement YN: No
  • Total Bedrooms: 1
  • Living Area: 17600.0
  • Stories: 2

Exterior Features

  • Exterior Features: Landscaping
  • Disclosures: RANM 2100 Disclosure
  • Builder Name: Erickson
  • Construction Type: Frame
  • Property Condition: Resale

Garage/Parking

  • Total Parking Spaces: 24.0

Utilities

  • Cooling: Central Air
  • Heating: Heat Pump
  • Utilities: Cable Connected, Electricity Connected, Water Connected
  • Cooling Y N: Yes
  • Heating Yn: Yes

Green Features

  • Green Power: None

Lot Info

  • Lot Size Sq Ft: 33541.2
  • Additional Parcels: Yes
  • Parcel #: 101805617321832501
  • Zoning Description: R-MH*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 20
  • Annual Gross Income: 197999.0
  • Annual Operating Expense: 104447.0

Tax Info

  • Tax Annual Amount: 13264.72

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
09/29/2023 09/29/23 Sold -- -- --
08/03/2023 08/03/23 Pending -- -- --
07/25/2023 07/25/23 For Sale $1,955,736 0.0% $111 / Sq Ft
11/01/2019 11/01/19 Rented $650 0.0% --
08/01/2019 08/01/19 For Rent $650 0.0% --
12/28/2018 12/28/18 Sold -- -- --
12/21/2018 12/21/18 Pending -- -- --
08/24/2018 08/24/18 For Sale $1,490,240 -- $85 / 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

    10 in this area

    225 Total Sales

    Todd Clarke
    Section Image

  • N

    Buyer's Agent in 2023

    Nonmls Nonmls

    Non Member of SWMLS

  • Sarah Rich

    Seller's Agent in 2019

    Sarah Rich

    GDR Property Solutions, LLC

    (505) 883-7070

    23 Total Sales

    Sarah Rich
    Section Image
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Map

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

MLS Number: 1038616

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-018-056-173-218-3-25-01

New Mexico Bernalillo County Albuquerque 87108 South San Pedro

924 Valencia Dr SE, Albuquerque, NM

This home is located at 924 Valencia Dr SE, Albuquerque, NM 87108 since 25 July 2023. This property was built in 2000. 924 Valencia Dr SE is a home located in Bernalillo County with nearby schools including Whittier Elementary School, Wilson 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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