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This 12 unit multi-family residence is a great investment opportunity in the north valley! Numerous recent improvements include new roofs on the two main buildings, newly painted exterior, new gas heaters throughout most units, and new bathrooms in multiple units as well. The property is conveniently located 1.5 miles south of Paseo Del Norte (Highway 423 - a major east/west thoroughfare in northern Albuquerque), less than a quarter-mile from a public library, and nearby other stores and daycare facilities.Measure of investment performance at the average rent of $568 include a GRM of 6.61, a Cap rate of 6.73%, and an internal rate of return 16.30%.If rents are raised to market $620, the measure of investment property increase to a cap rate of 8.11%, and a cash on cash of 13.04%.
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Listing information last updated on April 3rd, 2020 at 4:01pm MDT.