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Jeanette Raver & Raver Team

8500 Menaul Blvd NE, Suite A-400
Albuquerque, New Mexico 87112
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Listing 25 out of 1,368
$2,120,000 For Sale

1021 Coal Avenue
Albuquerque, NM 87102

29 units | Multi Family Home
0.66 acres - MLS# 933862
Property Photo


Gated community with 29 units, two downtown parking lots, laundry facility and three x 2 car garages plus a management office.Measures of investment performance at ask price of $2,120,000 and current average rent of $597 are a GRM of 10.20, a 6.59% cap rate, $73,103 per unit, $120/sf. If rents are raised to market average of $856, measures of investment performance increase to a GRM of 7.12, and a 9.63% cap rate.Recent downtown rent survey on pages 8-12. Owners are currently renovating unit 28 with an anticipated market rent of $850.Note recent improvements - new roof is being installed, high speed property wide wi-fi internet, and three units undergoing upgrades and rent increases as we speak.Need to close quickly? - check out what this property has done: - recent i

DIRECTIONS: From I-25 And Coal/Lead - West On Coal To 816, 1021 And 1116 Coal SW


  • Property Type: Multi Family Home
  • Sub Type: 9 or More Units
  • Listing Status: Active
  • County/Area: Bernalillo County
  • Zip Code: 87102
  • Year Built: 1986
  • Age: 21 - 30
  • Subdivision/Neighborhood: Raynolds Add
  • Sq.Ft.: 17,700 sq ft
  • Stories: 2
  • Units: 29 units
  • Lot Size: 0.66 acres
  • Zoning: MX-L*
  • 5+ Units: Yes
  • Amenities: Laundry Equip. Owned
  • Appliances included: Refrigerator
  • Builder: Keith
  • Construction: Frame
  • Cooling: Evaporative Cooling
  • Exterior Material: Stucco
  • Flooring: Carpet, Vinyl
  • Heating: Gas
  • Lot SqFt: 28749.60
  • Total # of Buildings: 6
  • Unit 1: 1, 1-Bath
  • Unit 2: 26, 1-Bed, 1-Bath
  • Unit 3: 1, 2-Bed, 1-Bath
  • Unit 4: 1, 3-Bed, 2-Bath
  • Unit Summary: Annualized: 189120
  • Unit Summary: Average Actual Rent: 543.44
  • Unit Summary: Average Unit Size: 420.68
  • Unit Summary: Total Actual Rent: 15760
  • Unit Summary: Total Units: 29
  • Utilities: All City
Courtesy of Nm Apartment Advisors, Inc.

Jeanette Raver and The Raver Team
8500 Menaul Blvd NE, Suite A-400
Albuquerque, NM 87112
Office: 505-554-2213


My experience with Jeanette was wonderful. She was there to walk me through the stressful process from start to finish. You cannot say that about most realtors these days. Jeanette treated me more like a friend then a client. If you are looking to sell, buy, or sell and buy a home, I would look no further. She is honestly the most trustworthy realtor I have come by. Previous Client
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