Corner lot duplex - Featuring 2 bedroom and 1 bathroom units. Unit A has an attached one car garage and has been remodeled boasting modern finishes. The property's layout and features, make it an attractive option for an owner-occupants seeking rental income. Don't miss this opportunity to own a turnkey property with potential for increased value and rents.
Seller is willing to offer financing for an owner occupant (who must move into the property) with a 5% down payment 30 year amortization, 5.75% interest rate, 7 year balloon, subject to approval of the buyers credit report, financial statement and tax returns. Seller financing for an investor is available with a 12.5% down payment.This fourplex contains two bedroom one bathroom units that are renting at $1,247. Each renovated unit has washers/dryers and the belong to the owner and convey with the property.At the current average rents of $1,247, and an ask price of $493,710 the measures of investment performance include a price per unit of $123,427, price per square foot of $157.49, a GRM of 8.25, an after reserves cap rate of 6.65%.
GREAT INCOME POTENTIAL. Do not miss your opportunity to see this home. Main house is detached while two additional units are attached to one another in the rear of the property. With a security fence and plenty of parking for tenants. Easily located near I-40 and within walking distance of amenities. Do not miss your opportunity to add to your real estate portfolio or become an investor today. Please schedule your showings!
Located just a few blocks west of the Sandia mountain foothills at 12229 Menaul NE, the unit mix includes:- Unit A is a 1,274 square foot, 3 bedroom / 2 bathroom with a 2 car garage.- Unit B is a 1,100 square foot, 2 bedroom, 1bathroom home.- Unit C is a 829 square foot, 2 bedroom, 1 bathroom home.Each residence has its own private area and/or backyard.Besides the spacious units, the main amenity for this property is the quiet and serene NE Heights neighborhood close to foothills trails and shopping.Measures of investment performance at ask price of $579,429 and average rents, as of 2/1/2024, of $1,325 are a GRM of 12.15, a 5.25% cap rate, $193,143 per unit, $186/sf and an after tax IRR of 13.2%.
2 Homes on large lot. Both have backyard access, 1st is a 3 bedroom, 1 3/4 bath and 2nd home is a 2 bedroom, 1 Bath. Both homes are FULLY REMODELED, including New Roofs, Windows, Water heaters, flooring, Paint, Fixtures, New double sided wall heater in Casita and large unit has newer heater. Newer swamp cooler in large unit and Large window A/C unit in the Casita. Electrical updated, New gas lines, Great for a large family or investment. Won't last long. Come see this beauty! Live in 1 & rent out the other and have the Casita pay half your Mortgage!!!
Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increase from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre
Units are separately metered - gas and electric. Units A and B share a private, recently updated laundry room. 421 1/2 has its own washer / dryer. Residents love the romantic atmosphere and artisan work around every corner - stained glass accents, custom wood work, built-ins, Talavera tile, meandering pathways, and extensive garden areas. Top UNM market rents come easily with plenty of room for simple value add.Measures of investment performance at ask price of $532,190 and current average rent of $1,255 are a GRM of 12.14, a 5.89% cap rate, $177,397 per unit, 286/sf and an after tax IRR of 13.8%. Properties like this, in a market where amazing job growth from all of the new Netflix, Facebook, Intel and Amazon jobs, go quickly. Do not wait as you will be honored to own this one
Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.
NOW COMPLETE!!! CAP Rate 7.5% Sound Investment Opportunity. 3 Story Units with Luxury Amenities and Design. 2 bedroom 2 baths constructed by experienced, Sierra Hacienda Builders. See renderings.
The median home value in Albuquerque, NM is $405,950. This is higher than the county median home value of $297,600. The national median home value is $338,100. The average price of homes sold in Albuquerque, NM is $405,950. Approximately 56.14% of Albuquerque homes are owned, compared to 37.24% rented, while 6.62% are vacant. Albuquerque real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Albuquerque real estate agent to arrange a tour today!
Albuquerque, New Mexico has a population of 562,336. Albuquerque is less family-centric than the surrounding county with 25.25% of the households containing married families with children. The county average for households married with children is 25.49%.
The median household income in Albuquerque, New Mexico is $56,366. The median household income for the surrounding county is $56,920 compared to the national median of $69,021. The median age of people living in Albuquerque is 37.5 years.
The average high temperature in July is 91.8 degrees, with an average low temperature in January of 23.5 degrees. The average rainfall is approximately 11.1 inches per year, with 10.6 inches of snow per year.