Bought with Simply Real Estate
$1,200,000
$1,335,236
10.1%For more information regarding the value of a property, please contact us for a free consultation.
1 Bath
9,250 SqFt
SOLD DATE : 11/12/2024
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 9,250 sqft
Price per Sqft $129
Subdivision Huning'S Highland Addition
MLS Listing ID 1063960
Sold Date 11/12/24
Construction Status Resale
HOA Y/N No
Year Built 1920
Annual Tax Amount $5,093
Lot Size 0.320 Acres
Acres 0.32
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
The Broadway Market Building, located at 421 Broadway SE, was built in the early 20th century and originally served as both a neighborhood retail anchor for the Huning Highlands area and one of the city's first live work communities. It housed a classic neighborhood grocery for over 60 years along with many other local shops and an ever vibrant, always fully-occupied apartment community above. In over a hundred years the property has had just two owners. Based on the current average rents of $891 per month, and ask price $1,335,236, the property's measures of investment performance include a 8.45 GRM, 6.97% cap rate before reserves, before tax IRR of 18.0% and an after-tax IRR of 14.3%.
Location
State NM
County Bernalillo
Area 80 - Downtown Area
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Wood
Fireplace No
Appliance Refrigerator
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Accessibility None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Resale
Others
Tax ID 101405734225610104
Acceptable Financing Cash, Conventional
Green/Energy Cert None
Listing Terms Cash, Conventional
Financing Conventional
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