130 Rhode Island Street Se Albuquerque, NM 87108

4 Units
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$373,105 Est. $1,327 / mo.*
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Property Type: Quadruplex
Status: Active
Year Built: 1980
Neighborhood: Unity Addition
Days on Website: 65

Courtesy of NM Apartment Advisors, Inc..

Description

130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor

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Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 2
  • Area: 3000
  • Building Area: 3000
  • Construction Materials: Frame
  • Levels: Two
  • Year Built: 1980
  • Details: EvaporativeCooling
  • Flooring: Vinyl
  • Heating: Central,ForcedAir
  • Days on Market: 1
  • Listing Price: 373105
  • Status: Active
  • Address: 130 Rhode Island Street SE
  • Area: 71 - Southeast Heights
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: Unity Addition
  • Directions: From I-40 and Wyoming, south to Central, west to Rhode Island, south to property. Please note adjoining property is also for sale (126 & 130)
  • Acres: 0.16
  • Size: 0
  • Size Source: PublicRecords
  • Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
$373,105 - 2Br/Ba - for Sale in Unity Addition, Albuquerque
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Location

$373,105 - 130 Rhode Island Street Se, Albuquerque, NM 87108
130 Rhode Island Street Se Albuquerque, NM 87108
Address: 130 Rhode Island Street SE

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