907 7th & 901 Street NW
Property Description
Within walking distance of breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, parks and the city's primary courthouses, this property gives residents a front-row seat to the energy of Downtown and convenient access to Old Town. Tucked behind classic white picket fences, the two buildings - originally constructed in 1931 and 1936 - offer a total of 4,119 square feet on approximately 0.2296 acres. The six homes have distinctive floor plans, bright living spaces, hardwood floors, built-ins, full kitchens, private yard areas, in-unit washers and dryers, and convenient on- and off-street parking. It is the kind of small-scale, character-rich downtown investment that stands out from the crowd. Owner-Occupant Opportunity Why buy just one home when you could live in one residence and collect rents from the others? The updated 26-page flyer includes an illustrative owner-occupant analysis showing a net monthly housing cost as low as $770 with a 25% down payment. That figure is a projection, not a loan quote or guarantee; actual results depend on occupancy, financing, expenses and rents. Furnished / Vacation-Rental Potential For buyers interested in other operating strategies, the flyer also explores the potential for vacation rentals in the Downtown / Old Town area. Short-term or furnished-rental use, any applicable approvals, licensing, operating costs and projected income should be independently verified. Investment Performance - Six-Unit Offering The combined asking price is $795,000 - $132,500 per unit, or $193.01 per square foot. As presented in the updated flyer, the offering has a 10.73 gross rent multiplier (GRM), a 6.19% capitalization rate before reserves and a modeled 13.40% after-tax internal rate of return (IRR). The flyer reports average rent of $1,083 for 2025 and models $1,275 for its 2027 pro forma, with a potential 7.73% capitalization rate before reserves and an 8.66 GRM. Projections are illustrative and are not assured. There is another noteworthy feature: the six homes occupy TWO separate parcels. The owners indicate that the two triplexes can also be sold and financed separately - an option for investors seeking flexibility in acquisition and financing. Get the Flyer, Numbers and Virtual Tours The 26-page marketing flyer includes the APOD, return model, comparable-sales analysis, floor plans, photographs, surveys and zoning information. Register for additional information and confidential documents here:
Broker Details
NM Apartment Advisors Inc. 505-440-8633
MLS ID: clarkeda State License Number: 13711
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $795,000 |
| No. of Units: | 6 |
| Year Built: | 1931 |
| Opportunity Zone: | No |
| Price per unit: | $132,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 0 |
ID: 3yd-GAARNM-1113715
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