potential owner occupant, courtyard style fourplex with two bedroom, one bathroom units each with washer/dryer hookups or washer/dryers.The prior owner remodeled the property with a new roof, new windows, synthetic stucco, hard surface flooring, new lighting, new vanities, washer/dryers new evaporative coolers updated electrical, wrought iron security fence, new toilets as well as replacing some of the hot water heaters and furnaces.This 4-plex is located in an area of that has had major announcements of new employment. Measures of investment performance at ask price of $433,651 and current average rent of $906 are a GRM of 9.97, a 6.71% cap rate, $108,413 per unit, $144.55/sf.If rents are raised to closer to market rates of $1,075 the cap rate improves to 8.10%
For sale
$433,651
512 Mesilla St SE, Albuquerque, NM 87108
2beds
1baths
3,000sqft
Est.:
Quadruplex, Multi Family
Built in 1960
-- sqft lot
$415,500 Zestimate®
$145/sqft
$-- HOA
What's special
New toiletsSynthetic stuccoNew roofWrought iron security fenceNew evaporative coolersNew vanitiesHard surface flooring
- 189 days
- on Zillow |
- 122 |
- 8 |
- Loading
- Loading