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300 Rhode Island Street SE

Albuquerque, NM 87108
  • $956,188
  • STATUS: Active
  • ON SITE: 40 Days
  • MLS #: 1021426
UPDATED: 66 min ago
$956,188
  • 1
    BEDS
  • 0.62
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1956
County:

School Ratings & Info

Description

Carpe Diem in a market with forecasted occupancy and rent growth due to the expansionof the three of the six FAANG Stocks investments/companies in our marketplace.300-314 Rhode Island SE has average rents of $562 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.45, a before reserves cap rate of 6.77% and an after tax IRR of 17.50%. If rents are raised to the market of $748, the measure of investment performance improve to a cap rate of 9.15% and a 19.65% cash on cash.A request to the owner not lease the office or 3 vacant onebedroom units, allowing the buyer an immediate opportunity to do a renovation/rehabilitation and rent those units at their market rent. The APOD and financial analysisassumes those units are rented at $61

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IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2022-10-03T17:05:08.683.
www.metrohomesearch.com/homes/132405805
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300 Rhode Island Street SE Albuquerque, NM 87108

  • Price: $956,188
  • Status: Active
  • On Site: 40 Days
  • Updated: 66 min ago
  • MLS #: 1021426
1
Beds
1
Baths
0
½ Baths
0.62
Acres
1956
Built
Neighborhood:
Casas Serenas
County:
Bernalillo
Area:
71 - Southeast Heights
Property Description
Carpe Diem in a market with forecasted occupancy and rent growth due to the expansionof the three of the six FAANG Stocks investments/companies in our marketplace.300-314 Rhode Island SE has average rents of $562 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.45, a before reserves cap rate of 6.77% and an after tax IRR of 17.50%. If rents are raised to the market of $748, the measure of investment performance improve to a cap rate of 9.15% and a 19.65% cash on cash.A request to the owner not lease the office or 3 vacant onebedroom units, allowing the buyer an immediate opportunity to do a renovation/rehabilitation and rent those units at their market rent. The APOD and financial analysisassumes those units are rented at $61
Exterior Features

Construction Materials Frame Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporative CoolingWindow Unit(S) Cooling YN Yes Electric None Flooring Tile Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Disclosures Lead Based Paint DisclosureRanm 2100 Disclosure Gross Income 98138 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 36796 Property Condition Resale Property Sub Type Multi Family Tax Annual Amount 2194.73 Tenant Pays OtherSee Remarks Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description R-Ml*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2022 Southwest Multiple Listing Service, Inc.


IDX information © 2022 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2022-10-03T17:05:08.683.
 
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Campbell & Campbell Real Estate Services
5716 Osuna Rd NE
Albuquerque NM, 87109