213 63RD ST NW Active Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87105
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,160 sqft
Price per Sqft $152
MLS Listing ID 1056742
Bedrooms 4
Construction Status Resale
HOA Y/N No
Year Built 1984
Annual Tax Amount $2,676
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions Public Records
Property Description
Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.
Location
State NM
County Bernalillo
Area 111 - Ladera Heights
Interior
Interior Features Ceiling Fan(s)
Heating Central, Forced Air
Cooling Evaporative Cooling, Ceiling Fan(s)
Flooring Carpet, Laminate, Tile
Fireplace No
Appliance Free-Standing Electric Range,Refrigerator,Range Hood,Self Cleaning Oven
Exterior
Exterior Feature Lighting
Utilities Available Electricity Connected, Natural Gas Available, Phone Connected, Sewer Connected, Water Connected
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Construction Status Resale
Others
Tax ID 101105705735720314
Acceptable Financing Cash,Conventional,FHA
Green/Energy Cert None
Listing Terms Cash,Conventional,FHA