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1700 Indian Plaza Drive, Albuquerque, NM 87106

Multi-Family Home For Sale

1700 Indian Plaza Drive, Albuquerque, NM 87106 House For Sale - MLS #874575
$11,000,000
Multi-Family
5+ Family
9

Property Description for 1700 Indian Plaza Drive, Albuquerque, NM 87106

Well located next to Wholefoods store, one freeway exit from Downtown or Uptown, just north of the UNM legal and medical campus, this low density, 140 unit, completed renovated apartment community offers its residents an ''A'' infill location with 9 different floorplans.Assumable Fannie Mae Financing at 67% loan to value offers an astute investor a before Tax IRR of 18.4%, and after Tax IRR of 14.0%.Property also includes an additional 1.4 acres of land that could be used for future apartment development - see listing agent for more details.Recently renovated, and priced well below replacement cost. Upside potential in adding Wi-Fi, and moving rents up 13% to submarket average.Amenities include: 1 and 2 story town home units, fire places, 2 swimming pools, updated clubhous

Interior Details

111,927 sq. ft.
$98.28/sq. ft.
Dishwasher; Refrigerator

Exterior Details

2
Frame

Other Details

874575
1980
Clubhouse; Laundry Equip Leased; Owners Unit; Swimming Pool
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Monthly Mortgage Payments

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$69,590

Town Description

Albuquerque is the largest city in the state of New Mexico. It is the county seat of Bernalillo County and is situated in the central part of the state, straddling the Rio Grande. The city population...

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