130 Rhode Island Street Se
Albuquerque,
NM
87108
Property Details
| List Price: |
$373,105 |
| Beds: |
2 |
| Baths: |
-- |
| Status: |
Pending |
SqFt: |
3000 |
| Agency: |
NM Apartment Advisors Inc. |
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Description/Comments
| Lot Size: |
-- |
| Property Type: |
Residential |
| Year Built: |
1980 |
| Notes: |
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 |
| MlsNumber: |
1058183 |
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| Listing Provided By: |
NM Apartment Advisors Inc., original listing |
| Name: |
NM Apartment Advisors Inc. |
| Phone: |
(505) 440-8633 |
| Office Name: |
NM Apartment Advisors, Inc. |
| Office Phone: |
(505) 440-8633 |
| Agent Name: |
Todd Clarke |
| Disclaimer: |
Copyright © 2024 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
