511 Spruce Street SE, Albuquerque, NM 87106
- $850,000
- 7
- BD
- 6
- BA
- 3,749
- SqFt
- List Price
- $850,000
- Status
- ACTIVE
- Days on Market
- 53
- MLS#
- 1105527
- Subtype
- Residential Income
- Year Built
- 1936
- Bedrooms
- 7
- Bathrooms
- 6
- Living Area
- 3,749
- Lot Size
- 13,504
- Acres
- 0.31
- Subdivision
- Terrace Add
- Neighborhood
- Terrace Add
- MLS Area Major
- UNM South
Property Description
Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.
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Additional Information
- Taxes
- $3,168
- Zoning
- R-T*
- Flooring
- Tile, Vinyl
- Appliances
- Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator
- Heating
- Ductless
- Air Conditioning
- Ductless, Evaporative Cooling
- Stories
- 1
- Levels
- One
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Listing courtesy of Luke Scarpa from NAI SunVista Commercial RE
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.