16 days on rocket

501 Pennsylvania St SE, Albuquerque, NM, 87108

$1,100,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo
Schools Nearby

Location

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501 Pennsylvania St SE, Albuquerque$1,100,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeCondominium
Year Built1963
HeatingForced Air, Natural Gas
CoolingEvaporative Cooling
MLS #202401578
Lot Size1.14 Acres
StatusActive

About 501 Pennsylvania St SE

Real Estate Advisors is pleased to present a value-add, multifamily investment opportunity in Albuquerque, NM. The property consists of 21-Units in four buildings, on-site laundry, and an additional 1/3-acre vacant lot. Unit mix includes Four (4), 2-Bed I 1-Bath, Nine (9) 1-Bed I 1-Bath and Eight (8) Studio apartments. Each unit has a backyard with personal storage room. All leases are Month-to-Month, providing flexibility for potential adjustments. Three of the four buildings are individually metered for electric with water and gas on master. The four units in building 501 are individually metered for Electric and Gas, water is on master. All utilities are included in the rent. A new owner could require new tenants to pay their own utilities. Recent Capital Improvements include complete roof replacement on all buildings, new laundry room, tile throughout, new water heaters (as they become due) and a complete remodel of all units in building 505. 6 units in building 503 are currently non-operational due to a fire. The seller has taken appropriate steps to stay in compliance with the city through asbestos remediation in two of the units. The seller has also taken the time to get stamped Structural, Mechanical and Electrical plans. This will help streamline the remodeling process facilitating a swift restoration and increased revenue potential. Average sales price per unit in the immediate trade area is $100,00/unit. This property is being offered at almost half the price, $52,000/unit! This property offers an excellent opportunity for investors to capitalize on its value-add potential in the thriving Albuquerque rental market. Contact Real Estate Advisors to learn about this investment opportunity.

Property Details

Property Features

Property Information:

  • Architectural Style: One Story
  • Year Built: 1963

Listing Office:

  • Office Name: Real Estate Advisors, LLC
  • Office Phone: (505) 539-3200
  • Listing Agent: Jacob Rocker

Interior Features

Interior Information:

  • Basement: No
  • Interior: No Interior Steps

Lot Features

Lot Information:

  • Lot Size: 1.14 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas
  • Cooling: Evaporative Cooling

School Info

Assigned Schools Information:

  • Highland High School, Public District Grades 9-12
  • Nex Gen Academy, Public District Grades 9-12
  • Van Buren Middle School, Public District Grades 6-8
  • Wherry Elementary School, Public District Grades PK-5
  • Coronado Elementary School, Public District Grades KG-5

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,100,000

Tax Information:

  • Annual Amount: $1,730
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Albuquerque, NM.

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Albuquerque, NM

City

Med. Sold Price

$335.6K

Med. Price/SqFt

$201

Avg. Days On Market

26

# of Sold Homes

556

501 Pennsylvania St SE vs Albuquerque

16 DAYS ON ROCKET

-10 Days

$1,100,000

+$764.3K More

KEY TAKEAWAY

This property is $764.3K more than the Median Sold Price in Albuquerque, NM.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SFAOR
  • MLS Number: #202401578

Listing Office:

  • Office Name: Real Estate Advisors, LLC
  • Office Phone: (505) 539-3200
  • Listing Agent: Jacob Rocker

IDXThe data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Copyright © 2024 Santa Fe Association of REALTORS® All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/17/2024, 12:20:36 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Aug 20, 2001Home Sold
$325,000

Tax History

YEARPROP. TAXASSESSMENT
2020$1,730$40,330
2019$1,736$40,763
2018$1,251$40,763
2017$1,251$29,415

History based on county public records data.

Payment Calculator

$5,558

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,364

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-2510927
1
/10

  • Wherry Elementary School

  • Bldg 25000 Kafb

  • 0.81 miles

  • Public District Grades PK-5

school-card-donut-2510928
6
/10

  • Coronado Elementary School

  • 601 4th St SW

  • 5.33 miles

  • Public District Grades KG-5

Middle School

school-card-donut-2510929
4
/10

  • Van Buren Middle School

  • 700 Louisiana Blvd SE

  • 0.43 miles

  • Public District Grades 6-8

High School

school-card-donut-2510930
3
/10

  • Highland High School

  • 4700 Coal Ave SE

  • 1.82 miles

  • Public District Grades 9-12

school-card-donut-2510931
6
/10

  • Nex Gen Academy

  • 5323 Montgomery Blvd NE

  • 4.60 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $30,000. The majority of Albuquerque, NM residents have income less than $35k annually. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 501 Pennsylvania St SE

What is the listing price of this property?

The listing price of 501 Pennsylvania St SE property is $1,100,000.

What type of property is this?

The property 501 Pennsylvania St SE is a condo located in Albuquerque, New Mexico, 87108.

Is this property for sale now?

Active Listing: 501 Pennsylvania St SE is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 501 Pennsylvania St SE are:
Wherry Elementary School: GreatSchools Rating 1/10
Coronado Elementary School: GreatSchools Rating 6/10
Van Buren Middle School: GreatSchools Rating 4/10
Highland High School: GreatSchools Rating 3/10
Nex Gen Academy: GreatSchools Rating 6/10

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $1,730 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on August 20, 2001 for $325,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 501 Pennsylvania St SE is 1963.

Rocket Homes›New Mexico›Bernalillo County›Albuquerque›87108›501 Pennsylvania St SE

This home is located at 501 Pennsylvania St SE in Albuquerque, NM and zip code 87108 in the Trumbull Village neighborhood. This home, which was built in 1963, sits on a 1.14 acre lot. It has been listed on Rocket Homes since April 30, 2024 and is currently priced at $1,100,000.

Over 170 listings were sold over their listed price in April 2024 in Albuquerque, NM. In the same period over 230 listings were sold below the listed price and 156 listings were sold for the listed price. The number of listings in Albuquerque, NM decreased by 4.2% between March 2024 and April 2024. Listings spent 26 days on the market in April 2024, and had a median list price of $335,623 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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