1121 Louisiana BLVD SE Albuquerque, NM 87108

Located at 1121 Louisiana SE, this triplex is offered $69,500 less than the identical one we closed on last month across the courtyard at 1117 Louisiana SE. The main difference is my clients had performed an ~$18,000 renovation on the middle unit at 1117, increasing the market rents to $1,000. (email me if you want photos/design ideas from that unit).This triplex offers established residents who occupy two bedroom, one bathroom units with washer/dryer hookups, private back yard areas, and storage space. Each residents feels like its own private patio home.At the ask price of $230,000, and average rents of $645 the measures of investment performance include GRM of 10.43, cap rate before reserves of 5.44%, cap rate after reserves of 5.15% and an after tax IRR of 16.30%.