About 130 Rhode Island Street Se
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
Features of 130 Rhode Island Street Se
| MLS® # | 1058183 |
|---|---|
| Price | $373,105 |
| Bedrooms | 2 |
| Bathrooms | 1.00 |
| Square Footage | 3,000 |
| Acres | 0.16 |
| Year Built | 1980 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Active |
Community Information
| Address | 130 Rhode Island Street Se |
|---|---|
| Area | 71 - Southeast Heights |
| Subdivision | Unity Addition |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Construction | Frame |
|---|
Additional Information
| Date Listed | March 4th, 2024 |
|---|---|
| Days on Market | 53 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|