1920 Lead Avenue SE, Albuquerque, NM 87106

Home » All Multifamily Properties » Phoenix & Southwest » 1920 Lead Avenue SE, Albuquerque, NM 87106

Address: 1920 Lead Ave SE, Albuquerque, NM 87106, USA

Phoenix & Southwest + 2-4 Units

Created date: June 22, 2024

Date last updated: August 20, 2024

Upscale University area fourplex with high end rents!

On behalf of the owners, NM Apartment Advisors Inc. and Deacon Property Services are excited to present this opportunity to acquire this unique and charming UNM area 4-plex. Located at 1920 Lead SE, this Exceptional UNM area location close to Roosevelt Park, CNM, UNM Hospital, Downtown, & just 2 blocks Presbyterian Hospital.

Recent property upgrades include a newer roof, thermal windows, updated electrical service, zoned mini-split heating and cooling in all units, and upgraded, quality contemporary finishes across all four apartments. Each apartment features a very distinct floor plan with unique artistic touches and amenities throughout. You’ll also find awesome value-add opportunities by capitalizing on creating more common and private yard spaces or adding additional apartments.

Large lot offers tons of great off-street parking and access options (off both the alley and Lead Ave) and lots of potential for additional units. Detached garage is separately metered for electric and could be converted into another unit or generate more income renting to a resident (owners currently retain the garage for personal storage).

17 page flyer at http://www.nmapartment.com/apt/NMAA-Lead1920SE.pdf

Virtual tour at www.nmapartment.com/lead1920se3d

Measures of investment performance at ask price of $599,237 and current average rent of $1,011 are a GRM of 12.35, a 6.05% cap rate, $149,809 per unit, $292.31/sf and an after tax IRR of 9.9%.

Properties like this, in a market where amazing job growth from all of the new Netflix, Face book, Intel, and Amazon jobs, go quickly. Do not wait as you will be honored to own this one.

Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD (8633)
[email protected]

and

Kyle Deacon
Deacon Property Services, LLC
(505) 878-0100
[email protected]

Under Contract

Request Information

Due Digilence Documents

Key Property Information

Listing Status:	Under Contract
Listing Type:	Highest & best offer
Property Types:	2-4 Units
Price:	$599,237
No. of Units:	4
Cap Rate:	6.05%
GRM /GIM:	12.35
Year Built:	1935
Year Renovated:	2023
Building Size:	2,050 Sq ft
Lot Size:	0.21 Acres
No. of Stories:	2
APN:	101505743017641621
Zoning Code:	R-ML
Opportunity Zone:	No
Price per unit:	$149,809
Parking Spaces:	?
Property Website	Click Here