About 300 Rhode Island Street Se
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%.
Features of 300 Rhode Island Street Se
| MLS® # | 1032229 |
|---|---|
| Price | $956,188 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Acres | 0.62 |
| Year Built | 1956 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 300 Rhode Island Street Se |
|---|---|
| Area | 71 - Southeast Heights |
| Subdivision | Casas Serenas |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Tile |
|---|---|
| Appliances | Refrigerator |
| Heating | Wall Furnace |
| Cooling | Evaporative Cooling, Window Unit(s) |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Construction | Frame |
|---|
Additional Information
| Date Listed | April 6th, 2023 |
|---|---|
| Days on Market | 388 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|