3 months on rocket

7600 Central Ave SE, Albuquerque, NM, 87108

$1,425,000

Home List Price

$10,000*

Closing Credit

1 Bedroom
1 Bath
10,515 SqFt
$136/SqFt
Multi

Location

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7600 Central Ave SE, Albuquerque$1,425,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1946
HeatingFloor Furnace
CoolingEvaporative Cooling, Varies By Unit, Window Unit(s)
MLS #1067286
Lot Size0.63 Acres
StatusActive

About 7600 Central Ave SE

The Pioneer Apartments (7600 Central Ave. SE) price has been reduced to $1,425,000, a $100,000 reduction. Respectively, the in-place investment returns are robust relative to market competitors. At $64,773/Unit, the August 2024 Gross Rent Multiplier (GRM) is 7.03. A GRM below 8.50 is highly unusual for a fully renovated property. Since 2018, The Pioneer Apartments have undergone substantial renovations to provide secure and clean housing for low-income Albuquerque residents. Over the past fifteen (15) months, the owner invested nearly $120,000 in capital improvements, including a 6-ft tall wrought iron perimeter fence and new electrical panel.Cap Rate: 7.86%Pre-Tax Cash-on-Cash Return: 8.50%-10.72% *See Flyer for Acquisiton Financing Assumptions.*

Property Details

Property Features

Property Information:

  • Year Built: 1946
  • Stories: 1
  • Living Area: 10,515 SqFt

Listing Office:

  • Office Name: NAI SunVista Commercial RE
  • Office Phone: (505) 878-0001
  • Listing Agent: Sarah Raboff

Interior Features

Interior Information:

  • Appliances: Cooktop, Microwave, Refrigerator, Range Hood
  • Basement: No
  • Flooring Type: Laminate, Tile, Vinyl

Bedroom and Bathroom Information:

  • Total Bedroom Count: 1

Lot Features

Lot Information:

  • Lot Size: 0.63 Acres

Utilities

Utilities Information:

  • Heating: Floor Furnace
  • Cooling: Evaporative Cooling, Varies By Unit, Window Unit(s)

Other

Directions Information:

  • Directions: Southeast Corner of Central Ave. SE & San Pablo Dt. SE.

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,425,000
  • Price Per SqFt: $136/SqFt

Tax Information:

  • Annual Amount: $4,271
  • 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

$344K

Med. Price/SqFt

$204

Avg. Days On Market

33

# of Sold Homes

530

7600 Central Ave SE vs Albuquerque

119 DAYS ON ROCKET

+86 Days

$1,425,000

+$1.0M More

$136/SqFt

-$69 Less

KEY TAKEAWAY

This property is $1.0M more than the Median Sold Price and $69/SqFt less than other homes in Albuquerque, NM.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SWMLS
  • MLS Number: #1067286

Listing Office:

  • Office Name: NAI SunVista Commercial RE
  • Office Phone: (505) 878-0001
  • Listing Agent: Sarah Raboff

IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. 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. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.

Copyright © 2024 Southwest Multiple Listing Service. 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: 11/18/2024, 1:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$4,271$89,025
2019$4,271$89,025
2018$4,272$89,025
2017$4,272$89,025

History based on county public records data.

Payment Calculator

$7,180

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,339

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NMLS#3030

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.

Nearby Schools

school-card-donut-620160
3
/10

  • La Mesa Elementary School

  • 7500 Copper Ave NE

  • 0.33 miles

  • Public District Grades PK-5

school-card-donut-620161
2
/10

  • Emerson Elementary School

  • 620 Georgia St SE

  • 0.68 miles

  • Public District Grades PK-5

school-card-donut-620162
4
/10

  • Sandia Base Elementary School

  • 21001 Wyoming SE Kafb East

  • 1.14 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $19,167. The majority of Albuquerque, NM residents have income less than $35k annually. Typical family type is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New Mexico›Bernalillo County›Albuquerque›87108›7600 Central Ave SE

This home is located at 7600 Central Ave SE in Albuquerque, NM and zip code 87108 in the Trumbull Village neighborhood. This 10,515 square foot home, which was built in 1946, sits on a 0.63 acre lot. Features: 1 bedroom, 1 bathroom. It has been listed on Rocket Homes since July 21, 2024 and is currently priced at $1,425,000.

Albuquerque, NM housing market in October 2024 saw over 94 listings sold above listed price, more than 148 sold at listed price and over 288 sold below. Between September 2024 and October 2024, Albuquerque, NM real estate market has seen decrease in the number of listings by 8.2%. While the average time on the market in October 2024 was 33 days, the median list price was $344,019.

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

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