Skip To Content

300 Rhode Island Street SE

Albuquerque, NM 87108
  • $956,188
  • STATUS: Active
  • ON SITE: 383 Days
  • MLS #: 1032229
UPDATED: 104 min ago
$956,188
  • 1
    BEDS
  • 0.62
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1956
County:

School Ratings & Info

Description

New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.

Monthly Payment Calculator



IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team | Coldwell Banker Legacy. Data last updated: 2024-04-24T00:06:23.313.
www.sandisells.com/homes/138355250
Print Image

300 Rhode Island Street SE Albuquerque, NM 87108

  • Price: $956,188
  • Status: Active
  • On Site: 383 Days
  • Updated: 104 min ago
  • MLS #: 1032229
1
Beds
1
Baths
0
½ Baths
0.62
Acres
1956
Built
Neighborhood:
Casas Serenas
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.
Exterior Features

Construction Materials Frame Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative Cooling Window Units Cooling YN Yes Electric None Flooring Tile Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Gross Income 98553 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional New Construction YN No Operating Expense 36828 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 2689.2 Tenant Pays Other See Remarks Utilities Cable Connected Electricity Connected Natural Gas Connected Phone Connected Sewer Connected Water Connected Zoning Description R- ML*

Southwest MLS] logo Listing courtesy of NM Apartment Advisors, Inc.: (505) 440-8633. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team | Coldwell Banker Legacy. Data last updated: 2024-04-24T00:06:23.313.
 
https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1032229-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1032229-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1032229-2.jpg
Logo
Sandi Pressley Team | Coldwell Banker Legacy
10400 Academy Rd NE Suite 100
Alburquerque NM, 87111