130 Rhode Island SE
Most inexpensive fourplex in ABQ – renovated and ready for 2023 closing
My client asked me to bring all offers for the last property in his portfolio for a 2023 closing.
Did you know that the average fourplex sales price of $408,808 reflects an appreciation of 92.2% between 2017 to today? Strong rent growth is driving appreciation faster than inflation can keep up.
NM Apartment Advisors is excited to bring back to market this recently renovated fourplex located at 130 Rhode Island SE.
130 Rhode Island SE with average rents now at $811, a 18% increase over June 2022 when they averaged $681 and at the ask price of $354,068 the measures of investment performance include a GRM of 9.19, a before reserves cap rate of 7.00% and an after tax IRR of 14.50%. If rents are raised to the market of $925, the measures of investment performance improve to a cap rate of 7.99%, and cash on cash of 9.37%
Full inspection reports for 130 Rhode Island SE are available to qualified investors who register for additional info at www.nmapartment.com/rhode130
In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.
18 page marketing flyers including rent rolls, APOD, comparable sales, 5 year projection and more can be found at:
130 Rhode Island SE – http://www.nmapartment.com/apt/NMAA-RhodeIsland130SE.pdf
Extensive renovations list are on page 6 of the flyer(s).
Virtual tours of 130 Rhode Island SE can be viewed at:
http://www.nmapartment.com/130rhode3dUnitA
Additional information available to those buyers who complete the online confidentiality agreement
Do not wait – fourplexes that prices are at a historic high and on a blazing path of appreciation due to the new Amazon, Netflix, Facebook and Intel employment announcements.
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Key Property Information
| Listing Status: | Available |
|---|---|
| Multifamily type: | 2-4 Units |
| Price: | $330,222 |
| No. of Units: | 4 |
| Cap Rate: | 5.97% |
| GRM /GIM: | 10.10 |
| Year Built: | 1980 |
| Building Size: | 3,000 Sq ft |
| Lot Size: | 6,752.00 Acres |
| No. of Stories: | 2 |
| APN: | 101905631802940206 |
| Zoning Code: | MX-L |
| Opportunity Zone: | No |
| Price per unit: | $82,556 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 2br/1ba | 4 | 750.00 | 681.00 |
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|
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