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318-320 Princeton Dr SE
Albuquerque, NM 87106
Princeton Hall Apartments · Multifamily Property For Sale
·
24 Units
Investment Highlights
- 1.1 & 1.4 Miles from local Collage and University; Downtown within walking distance - 2 miles West
- VALUE-ADD OPPORTUNITIES
- 24 individual Evaporation Coolers (swamp coolers)
Property Facts
| No. Units | 24 | Building Size | 10,500 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1977 |
| Building Class | C | Parking Ratio | 3.05/1,000 SF |
| Lot Size | 0.33 AC | ||
| Zoning | Apartment | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 10,500 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 3.05/1,000 SF |
| Zoning | Apartment |
Amenities
Unit Amenities
- Dishwasher
- Kitchen
- Refrigerator
- Tub/Shower
- Dining Room
About 318-320 PRINCETON DR SE , ALBUQUERQUE, NM 87106
The Princeton Hall Apartments is a Value-Add opportunity sitting on .33 Acres with 10,500 of Gross Leasable Space located 1.5 miles from local Colleges. With (12) Studios and (12) 1/1 Bedroom units, the new owner can make Interior/Exterior improvements to increase rent by apx. $30-$50 monthly. The current monthly income ranges from $10,700-$12,000 & NOI at $97,975 making this 7.84% Cap property. The Current Owner manages the property with a live in manager who receives a monthly rent concession of $435 and could stay on for the new owner. The average tenant base consists of mainly students with one tenant being section 8 which keeps the current occupancy at 95%.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
| 1+1 | 12 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $123,681 | |
| Land Assessment | $28,066 | Total Assessment | $151,747 |
Property Taxes
Parcel Numbers
Land Assessment
$28,066
Improvements Assessment
$123,681
Total Assessment
$151,747
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