1303-1305 Iron Avenue SW
Property Description
Both units are tenant occupied. Property tours will be held for pre-qualified buyers only on August 22nd and August 29th from 1-3 pm. Located just minutes from Downtown Albuquerque and Old Town, the property is within walking distance of Rio Grande Pool, Rio Grande Park, the ABQ BioPark Zoo and nearby neighborhood amenities. It also offers convenient bicycle access to Downtown, Old Town Plaza and the extensive trail system along the Bosque and Rio Grande.Offered at $275,000, or $137,500 per unit, the property provides an attractive entry point into Albuquerque's multifamily investment market. Current underwriting reflects a 6.19% cap rate, with projected rent growth providing additional upside.The property features two one bedroom/one bathroom units. The extra lot contains 0.1618 acres with alley access and space for additionalbuilding(s).Do not wait, apartments continue to show strong appreciation coupledwith high rent growth potential from all of the new Amazon, Facebook,Intel, and Netflix jobs entering the market.
Broker Details
Maestas Real Estate Services of Rio Rancho (505) 463-3565
MLS ID: anitam State License Number: 16029
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $275,000 |
| No. of Units: | 2 |
| Year Built: | 1920 |
| Lot Size: | 1,128.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $137,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 1 |
| Number of Bathrooms: | 1 |
ID: 3yd-GAARNM-1109233
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