100% Leased 4-Plex in Desirable North Valley

Multi-Family for Sale
Catylist Listing ID: 30647300
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,264 SF
Gross Building Area: See Agent
Gross Land Area: 0.17 Acres
Sale Price: $350,000
Unit Price: $87,500 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 5.53%
Average Occupancy Rate: 100
Last Updated: 9/4/2020

Overview / Comments

Absolute Investment Realty is the exclusive representative of this newly remodeled 4-plex multi-family investment opportunity located at 1233 Menaul Blvd. NW, in Albuquerque, NM. The property is located directly across Menaul from the Indian Pueblo Cultural Center mixed use development. This 4-plex is part of a larger complex of 5 total 4-plexes, each individually platted and metered – Which can also be purchased (inquire with broker for more information).

The building underwent a complete exterior remodel and interior remodel in 2018 & 2019. The remodeled units are currently leased “introductory” lease rates in between $675 and $750 per month. Market lease rates for the trade area are estimated to be approximately $850 per month, giving the new owner of this property significant potential upside.

Because of its central city location, proximity to I-40, and shopping and dining options, this property is ideal for an investor looking for a property with stable income and upside.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North Valley
Tax ID/APN: 101305946740511006
Zoning: R-ML - Residential: Multi-family Low Density
Percent Occupied: 100%
Property Located Between: Menaul Blvd NW & 12th St
Property Condition: Good
Number of Stories: 2
Year Built: 1980
Year Renovated: 2018
Roof Type: Other
Construction/Siding: Stucco
Parking Type: Surface
Total Parking Spaces: 6
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Zoning Description: R-ML (Residential - Multi Family Low Density)
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,887 114,553 313,836
Median Age: 39.02 36.21 35.19
Households: 4,544 48,306 127,122

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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