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134 Rhode Island St SE
Albuquerque, NM 87108
Multifamily Property For Sale
·
4 Units
Executive Summary
THE OFFERING
Priced at $450,000, 134 Rhode Island St SE is a two-story fourplex located in Southeast Albuquerque. This 3,060 sq. ft. property offers four (4) 2-bedroom, 1-bathroom units on a 0.155-acre lot and is located near Central Ave, Zuni Rd, and major arterial routes, making it attractive to long-term renters.
The property has a projected gross income of $57,600 annually. With estimated annual operating expenses of $36,122, the pro forma net operating income (NOI) is approximately $38.522, yielding a projected cap rate of 6.2%, with a 29.80% before tax IRR.
This listing is part of a larger portfolio that includes two single-family income-producing homes. The seller is offering a Real Estate Contract REC to qualified investors at very attractive terms for this property and the complete portfolio.
Priced at $450,000, 134 Rhode Island St SE is a two-story fourplex located in Southeast Albuquerque. This 3,060 sq. ft. property offers four (4) 2-bedroom, 1-bathroom units on a 0.155-acre lot and is located near Central Ave, Zuni Rd, and major arterial routes, making it attractive to long-term renters.
The property has a projected gross income of $57,600 annually. With estimated annual operating expenses of $36,122, the pro forma net operating income (NOI) is approximately $38.522, yielding a projected cap rate of 6.2%, with a 29.80% before tax IRR.
This listing is part of a larger portfolio that includes two single-family income-producing homes. The seller is offering a Real Estate Contract REC to qualified investors at very attractive terms for this property and the complete portfolio.
Property Facts
| Price Per Unit | $154,082 CAD | Apartment Style | Garden |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.20% | Building Size | 3,126 SF |
| Gross Rent Multiplier | 7.81 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1980/2022 |
| Property Type | Multifamily | ||
| Zoning | MX-L - Low Density Residential | ||
| Price Per Unit | $154,082 CAD |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Gross Rent Multiplier | 7.81 |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.16 AC |
| Building Size | 3,126 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2022 |
| Zoning | MX-L - Low Density Residential |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,644 CAD | 782 |
Property Taxes
| Parcel Number | 1-019-057-318024-4-02-07 | Improvements Assessment | $81,576 CAD |
| Land Assessment | $7,212 CAD | Total Assessment | $88,788 CAD |
Property Taxes
Parcel Number
1-019-057-318024-4-02-07
Land Assessment
$7,212 CAD
Improvements Assessment
$81,576 CAD
Total Assessment
$88,788 CAD
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