Property Type:
Residential Income
Square Footage:
6,272
Lot Size (sq. ft.):
6,098
Status:
Closed
Current Price:
$860,000
List Date:
6/27/2022
Last Modified:
9/08/2022
Overview
Description
Two well maintained turnkey four plex's on the eastern edge of the sought-after Ridgecrest neighborhood. Located near Kirtland Airforce Base, Veterans Hospital, Albuquerque International Sunport and the new Max Q development. All units are two-bedroom, one bath, with a laundry room/washer dryer hookup. Some units have washers and dryers. All units have microwaves, dishwashers, and disposals, and multi part vinyl windows. Six of the evaporative coolers were replaced in 2014 and two were replaced with Bonaire high efficiency 5000 CFM units in June of 2022. Both buildings were re-stuccoed in 2014. Both roofs were replaced in 2013. The property has been owned by the same owners for over 30 years and has been self-managed. There is currently one unit vacant that has been entirely remodeled
Supplements:
with new flooring, new paint, new cabinets, new microwave, dishwasher and stove. This unit is currently advertised for rent at $950/month. Actual financial data provided by the seller for the first five months of 2022 and annualized results in a 5.2 CAP rate and a GRM of 13.27. Raising rents to $900/month results in a proforma CAP of 8.1 and GRM of
...
(Read more)
with new flooring, new paint, new cabinets, new microwave, dishwasher and stove. This unit is currently advertised for rent at $950/month. Actual financial data provided by the seller for the first five months of 2022 and annualized results in a 5.2 CAP rate and a GRM of 13.27. Raising rents to $900/month results in a proforma CAP of 8.1 and GRM of 9.43. Selling both buildings only, seller will not divide. Offer subject to walk through/inspections. Please DO NOT disturb tenants.
Last Updated: September - 08 - 2022
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