1315 Madeira Drive SE, Albuquerque, NM 87108
- $522,720
- 3
- BD
- 2
- BA
- 3,233
- SqFt
- List Price
- $522,720
- MLS#
- 1108087
- Property Type
- Multifamily
- Bedrooms
- 3
- Bathrooms
- 2
- Sqft. of Residence
- 3,233
- Lot Size
- 8,581
- Region
- Southeast Heights
- Status
- ACTIVE
Property Description
This your chance to own a unique part of Albuquerque history and a rare opportunity to acquire an amazing fourplex that was built by the same engineer/ developer who built the Trestle. What is the Trestle? It is the world largest free standing wood structure containing 6.5 million board feet in a structure that is 12 stories tall and 1,000 feet long. Built in the early 1970s for $58M, this structure is part of our cold war history.This fourplex is part of a larger 16 units (4 x fourplexes) community that was developed by Dr. Carl Baum as his primary residence while he worked at Kirtland Air Force Base.Dr. Baum was known as a world recognized expert on electromagnetic pulse phenomena. He designed and built this portfolio of apartments to be closer to work and model his lifestyle after his work ethic.Beyond this Property's rich history, residents love the upgraded & properly loaded 2 bedroom 1 bath floor plans with quality updates, solid surface flooring throughout, modern fixtures, full size washer / dryers in a separate utility closets, big courtyard spaces, and large & updated kitchens with all appliances -including dishwashers.Measures of investment performance include: at ask price of $522,720, $130,650 per unit, $138.87/sf, 6.92% before reserves CAP rate, a 6.75% after reserves cap rate, and an after tax IRR of 19.2%.
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Additional Information
- County
- Bernalillo
- Subdivison
- Summary Plat Tract B Virginia Place Add
- Acres
- 0.20
- Appliances
- Refrigerator
- Construction
- Block, Frame, Stucco
- Cooling
- Evaporative Cooling
- Flooring
- Vinyl
- Heating
- Forced Air
- Owner Pays
- Other, See Remarks
- Utilities
- Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Zoning
- MX-M*
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Listing courtesy of NM Apartment Advisors, Inc..
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.