Bought with Non Member of SWMLS
$880,000
$880,000
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2 Beds
1 Bath
0.56 Acres Lot
SOLD DATE : 05/28/2025
Key Details
Sold Price $880,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 1069534
Sold Date 05/28/25
Bedrooms 2
Construction Status Resale
HOA Y/N No
Year Built 1958
Annual Tax Amount $5,875
Lot Size 0.560 Acres
Acres 0.56
Lot Dimensions Other
Property Sub-Type Multi Family
Property Description
Presenting 1132 Palomas SE, a prime investment opportunity you won't want to miss! This well-priced 10-unit property offers a great mix of 2-bedroom, 1-bathroom units, each featuring in-unit washer and dryer hookups. Most of the units have been thoughtfully updated, enhancing their appeal and ensuring tenant satisfaction.With an impressive in-place 7% cap rate and a current 6% cash-on-cash return, this property is already delivering strong financial performance. However, there's significant potential for even more upside. The property is well-positioned for rent growth, with the possibility to increase revenue through strategic updates and enhancements. Whether you're looking to make targeted improvements or capitalize on the area's rising demand, 1132 Palomas SE offers great value-add.
Location
State NM
County Bernalillo
Area 71 - Southeast Heights
Interior
Interior Features Ceiling Fan(s)
Heating Central, Forced Air
Cooling Evaporative Cooling, Ceiling Fan(s)
Flooring Laminate, Tile, Vinyl
Fireplace No
Appliance Free-Standing Electric Range, Refrigerator
Laundry Washer Hookup, Dryer Hookup, Electric Dryer Hookup, In Unit
Exterior
Community Features Storage Facilities
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101805610814831601
Security Features Complex Fenced
Acceptable Financing Cash, Conventional
Green/Energy Cert None
Listing Terms Cash, Conventional
Financing Conventional
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