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134 Rhode Island St SE
Albuquerque, NM 87108
Multifamily Property For Sale
·
4 Units
EXECUTIVE SUMMARY
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 $57,000 annually, with a 5% vacancy allowance ($54,000). With estimated annual operating expenses of $20,700, the pro forma net operating income (NOI) is approximately $33,400, yielding a projected cap rate of 7.42%, with a 27.52% IRR with a five-year hold. *
Tenants enjoy practical amenities such as gated access, private balconies (in upper units), security doors, and on-site parking. Zoned MX-L (Mixed-Use Low Intensity), the property provides long-term flexibility for multifamily or future redevelopment.
This listing is part of a larger portfolio that includes two single-family income-producing homes. Please contact Tai Alley at 505 980-6151 if you would like more information on the complete portfolio. The seller is offering a Real Estate Contract REC to qualified investors at very attractive terms for this property and the complete portfolio.
The property has a projected gross income of $57,000 annually, with a 5% vacancy allowance ($54,000). With estimated annual operating expenses of $20,700, the pro forma net operating income (NOI) is approximately $33,400, yielding a projected cap rate of 7.42%, with a 27.52% IRR with a five-year hold. *
Tenants enjoy practical amenities such as gated access, private balconies (in upper units), security doors, and on-site parking. Zoned MX-L (Mixed-Use Low Intensity), the property provides long-term flexibility for multifamily or future redevelopment.
This listing is part of a larger portfolio that includes two single-family income-producing homes. Please contact Tai Alley at 505 980-6151 if you would like more information on the complete portfolio. 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 | $154,888 CAD | Apartment Style | Garden |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.66% | 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 | $154,888 CAD |
| Sale Type | Investment |
| Cap Rate | 7.66% |
| 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 | $1,652 CAD | 782 |
PROPERTY TAXES
| Parcel Number | 1-019-057-318024-4-02-07 | Improvements Assessment | $83,618 CAD |
| Land Assessment | $7,393 CAD | Total Assessment | $91,011 CAD |
PROPERTY TAXES
Parcel Number
1-019-057-318024-4-02-07
Land Assessment
$7,393 CAD
Improvements Assessment
$83,618 CAD
Total Assessment
$91,011 CAD
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