615 Iron Avenue SW, Albuquerque, NM 87102 (MLS# 1003217)

Overview

Description

Exceptional investment opportunity! This modern 6-unit building, just two years old, showcases quality craftsmanship from an experienced builder/owner and delivers an impressive cap rate. Each unit is thoughtfully designed with contemporary finishes and efficient layouts, ensuring both style and durability. Currently operated as successful Airbnb rentals, this property offers strong, proven income potential and immediate cash flow. The building's newer construction minimizes maintenance costs while maximizing long-term value, ideal for investors seeking turnkey performance in a thriving short-term rental market. A rare chance to own a high performing income property built and managed with experience and attention to detail. 5 of 6 units are now cash flowing AirBnB units - See APOD

Contract Information

List Price/SqFt: 256.18

Location

Street #: 615
Street Name: Iron
St Suffix: Avenue
Post Direction: SW
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 3825
MLS Area Major: 80 - Downtown Area
Zone Atlas: K14

General Property Description

# of Units: 6
5+ Units: Yes
Units for Sale: 6
Property Sub-Type: Multi-Family
Living Area: 6148
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.16
Lot SqFt: 6969.6
Directions: South on 8th St. from Central, East on Iron to property.
Stories: 3
Total Stories in Bldg: 3
Total # of Buildings: Yes
Year Built Exception: Under Construction
Age: Select One
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: No
Builder: Sierra Hacienda Builders
Owner Occupant Unit: No
Flood Zone: X

Cooling

Centrally Ducted: No
Refrigerated: Yes

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 965
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2200

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 835
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2000

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 823
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2200

# of Unit Types (4)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 965
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2200

# of Unit Types (5)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 835
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2100

# of Unit Types (6)

# of Units: Yes
# of Bedrooms: 2
# Baths: 2
Approx. SqFt: 965
Actual Rent: 2200
Max Rent: 2200
Market Rent: 2200

Unit Summary

Total Units: 6
Average Unit Size: 898
Average Actual Rent: 2200
Annualized: 158400
Total Actual Rent: 13200

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101405705927520204

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 587.6

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Balconies/Deck: Yes

Flooring

Carpet: Yes
Concrete: Yes
Tile: Yes

Heating

Central: Yes
Electric: Yes
Forced Air: Yes

Owner Pays

Maintenance: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Trash Removal: Yes
Water: Yes

Income & Expenses

Annual Gross Income: 143640

Build Description

Proposed Construction: Yes

Appliances included

Built-In Gas Range: Yes

Utilities

Natural Gas Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Insurance: Yes
Property Taxes: Yes

Parking

1 Space Per Unit: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Call Listing Broker: Yes

Source

Owner Provided: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Proposed Construction Amenities: Balconies/Deck Appliances included: Built-In Gas Range Utilities: Natural Gas Connected Heating: Central; Forced Air Cooling: Refrigerated Flooring: Carpet; Concrete; Tile Green Energy Generation: None Electric Provider: Public Utility Electric: None Metering: Individual Electric; Individual Gas Operating Expenses: Insurance; Property Taxes Owner Pays: Maintenance Tenant Pays: Electric; Gas; Sewer; Trash Removal; Water Parking: 1 Space Per Unit Rental Info: Call Listing Broker Finance Considered: Cash; Conventional Source: Owner Provided Zoning: R-MH*