-
130 RHODE ISLAND ST SE ALBUQUERQUE, NM 87108
- Multi-family (5 or more units) / Resale (MLS)
Property Details for 130 RHODE ISLAND ST SE, ALBUQUERQUE, NM 87108
Features
- Price/sqft: $124
- Lot Size: 6752 sq. ft.
- Total Units: 4
- Total Rooms: 2
- Room List: Bedroom 1, Bedroom 2
- Stories: 200
- Roof Type: FLAT
- Heating: Central Furnace,Forced Air
Facts
- Year Built: 01/01/1980
- Property ID: 863008349
- MLS Number: 1058183
- Parcel Number: 1-019-057-318-029-4-02-06
- Property Type: Multi-family (5 or more units)
- County: BERNALILLO
- Legal Description: * 6 2 UNITY ADD'N SIZE: 50 X 135
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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
Real Estate Professional In Your Area
Are you a Real Estate Agent?
Get Premium leads by becoming a RealtyStore.com preferred agent for listings in your area
Click here to view more details
Property Brokerage:
NM Apartment Advisors Inc.
524 Central Ave. SW Suite 801
Albuquerque
NM
87102
Copyright © 2024 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.