300 Rhode Island Street Se Albuquerque, NM 87108

15 Units
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$956,188 Est. $3,401 / mo.*
Details Directions
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Property Type: Multifamily
Status: Pending
Year Built: 1956
Neighborhood: Casas Serenas
Days on Website: 392

Courtesy of NM Apartment Advisors, Inc..

Description

New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.

Open House

Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 1
  • Construction Materials: Frame
  • Levels: Two
  • Year Built: 1956
  • Details: EvaporativeCooling,WindowUnits
  • Flooring: Tile
  • Heating: WallFurnace
  • Days on Market: 391
  • Listing Price: 956188
  • Status: Pending
  • Address: 300 Rhode Island Street SE
  • Area: 71 - Southeast Heights
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: Casas Serenas
  • Directions: From I-40 and Louisiana, south to Bell, east to property.
  • Acres: 0.62
  • Size: 0
  • Size Source: PublicRecords
  • Utilities: CableConnected,ElectricityConnected,NaturalGasConnected,PhoneConnected,SewerConnected,WaterConnected

Location

$956,188 - 300 Rhode Island Street Se, Albuquerque, NM 87108
300 Rhode Island Street Se Albuquerque, NM 87108
Address: 300 Rhode Island Street SE

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