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130 Rhode Island Street SE

Albuquerque, NM 87108
  • $373,105
  • STATUS: Active
  • ON SITE: 75 Days
  • MLS #: 1058183
UPDATED: 35 min ago
$373,105
  • 2
    BEDS
  • 0.16
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 3,000
    SQFT
  • $124
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1980
County:

School Ratings & Info

Description

130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor

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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 Keller Williams Realty. Data last updated: 2024-05-19T22:05:02.73.
www.albuquerquehomefinders.com/homes/148263331
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130 Rhode Island Street SE Albuquerque, NM 87108

  • Price: $373,105
  • Status: Active
  • On Site: 75 Days
  • Updated: 35 min ago
  • MLS #: 1058183
2
Beds
1
Baths
0
½ Baths
0.16
Acres
3,000
SQFT
$124
$/SQFT
1980
Built
Neighborhood:
Unity Addition
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor
Exterior Features

Construction Materials Frame Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative Cooling Cooling YN Yes Electric None Flooring Vinyl Heating Central Forced Air Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 3000 Green Energy Generation None Gross Income 29070 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional FHA VALoan New Construction YN No Operating Expense 12245 Property Condition Resale Property Sub Type Quadruplex Property Sub Type Additional Quadruplex Tax Annual Amount 2019.1 Tenant Pays Other See Remarks Utilities Electricity Connected Natural Gas Connected Sewer Connected Water Connected Zoning Description MX- L*

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 Keller Williams Realty. Data last updated: 2024-05-19T22:05:02.73.
 
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Keller Williams Realty
6703 Academy Road NE
Albuquerque NM, 87109