300 Rhode Island Street SE, Albuquerque NM, 87108
(Pending)
$956,188
|
1 beds, 1 baths
|
MLS# 1032229
Last Updated: 5/11/2024 4:42 PM
Description for
300 Rhode Island Street SE
Albuquerque, NM 87108
New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.
Price
$956,188
Casas Serenas
Bernalillo
1
1
1032229
Pending
Description
New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.
Listing Information
| Property Type: Multi-Family, 2 Story | ||
| 1 | 1 | |
| 0.62 Acres | 1956 | 2 |
| Frame | ||
Casas Serenas
Cable Available, Natural Gas Available, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Neighborhood
Room Information
Interior Features
Refrigerator
Tile
Evaporative, Window Unit(s)
Other,
Wall Furnace
Exterior / Lot Features
Frame
R-ML*
Driving Directions
From I-40 and Louisiana, south to Bell, east to property.
Financial Considerations
| 101905631749311610 |
| $2,689 |
Cash, Conventional
Listing Price History
Albuquerque Real Estate
Albuquerque is located in New Mexico. Albuquerque, New Mexico 87108 has a population of 572,777.
The median household income in Albuquerque, New Mexico 87108 is $32,346. The median household income for the surrounding county is $56,090 compared to the national median of $66,222. The median age of people living in Albuquerque 87108 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 5/1/2024 | Pending | $956,188 USD |
|
| 4/6/2023 | Active | $956,188 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $2,837 USD | 5.50% | $108,208 USD | 3.00% |
| 2022 | $2,689 USD | 22.51% | $105,056 USD | - |
| 2021 | $2,195 USD | -2.62% | $105,056 USD | - |
| 2020 | $2,254 USD | -37.80% | $105,056 USD | - |
| 2019 | $3,624 USD | -19.23% | $105,056 USD | - |