Property Description

130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor

Features
: Central, Forced Air
: Evaporative Cooling
: Refrigerator
$0
Address Map
NM
Bernalillo
Albuquerque
87108
130 Rhode Island Street SE
0
W107° 26' 31.9''
N35° 4' 24.5''
Additional Information
NM Apartment Advisors, Inc.
Todd D Clarke
$0
3,000 Sqft
: Frame
77
From I-40 and Wyoming, south to Central, west to Rhode Island, south to property. Please note adjoining property is also for sale (126 & 130)
$0
: Vinyl
Cash,Conventional,FHA,VA Loan
$0
1
101905731802940206
2
Unity Addition
$2,019
: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Here
2.0%
20350995
71 - Southeast Heights

Residential Income

130 Rhode Island Street SE, Albuquerque, New Mexico 87108

2 Bedrooms
1 Bathrooms
3,000 Sqft
Visits : 559 in 367 days
$373,105
Listing ID #1058183
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : 1058183
Price : $373,105
Bedrooms : 2
Bathrooms : 1
Square Footage : 3,000 Sqft
Year Built : 1980
Acres : 0.16 Acre
Lot Area : 6,969.60 Sqft
Status : Pending
Property Sub Type : Quadruplex
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