Bought with Coldwell Banker Legacy
$490,000
$550,000
10.9%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
3,017 SqFt
SOLD DATE : 02/10/2025
Key Details
Sold Price $490,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,017 sqft
Price per Sqft $162
MLS Listing ID 1074713
Sold Date 02/10/25
Bedrooms 2
Construction Status Resale
HOA Y/N No
Year Built 1975
Annual Tax Amount $3,003
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions Public Records
Property Sub-Type Quadruplex
Property Description
Awesome opportunity to own a far northeast heights four plex that has never been offered for sale since construction in 1975. Perfect for owner occupants or an investor looking for an upscale property with improvable rents. The property was built by a well-known Albuquerque home builder and has remained in his portfolio since its completion. The property consists of one 800 square foot unit with a back yard, and three 750 square units. All units are two bedrooms, one bathroom. All kitchens feature dishwashers and disposals. The larger unit has a retro wood burning fireplace! Current rents and expenses with a 5% allowance for vacancies and a 5% repair allowance result in a CAP rate of 5.0 and a GRM of 13.5. If rents were raised to $1250 a month the result is a CAP rate of 8.1 and a
Location
State NM
County Bernalillo
Area 50 - Northeast Heights
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Carpet, Vinyl
Fireplaces Type Option
Fireplace No
Appliance Dishwasher, Free-Standing Electric Range, Disposal, Refrigerator
Laundry Washer Hookup, Dryer Hookup, In Unit
Exterior
Community Features Deck/ Porch
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 102205838908540411
Acceptable Financing Cash, Conventional, FHA, VA Loan
Green/Energy Cert None
Listing Terms Cash, Conventional, FHA, VA Loan
Financing Conventional
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