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Well maintained 8-unit property in the Southeast neighborhood of Albuquerque. This complex, originally constructed in 1971, has a track record of consistent occupancy and hassle-free management, making it an ideal investment opportunity. The property is priced at an in-place cap rate of 7%, which accounts for a 40% expense ratio including management costs.
Each of the eight units is separately metered for gas and electric. Water is master metered. All utilities are currently paid by the landlord.
Recent upgrades include a roof replacement in 2020 and new exterior paint in 2023. Additionally, ceramic tile flooring has been installed in the living rooms, kitchens, and bathrooms, offering durability and easy maintenance.
Additional income can be generated by upgrading the on-site laundry rooms and storage units.
Don’t miss the opportunity to own a well-maintained, income generating property with a proven track record of success. 630-632 Alcazar St SE is poised to provide both steady returns and long-term appreciation.
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Join our community of buyers and sellers and subscribe to our Monthly Newsletter to receive Santa Fe community and real estate news delivered right to your inbox.
All real estate advertised herein is subject to the Federal Fair Housing Act and Equal Opportunities Act. Barker Realty Co., llc. strives in to confirm as reasonably practical all advertising information herein is correct but assumes no legal responsibility for accuracy and should be verified by Purchaser. Barker Realty Co., llc. is not responsible for misinformation provided by its clients, misprints, or typographical errors. Prices herein are subject to change. Square footage amounts and lot sizes are approximates. The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of SFAR MLS, Inc. All data in this web site is deemed reliable but is not guaranteed. © 2022 Southwest Multiple Listing Service, Inc. All rights reserved. Internet Data Exchange (IDX) listings are from Southwest Multiple Listing Service, Inc. (SWMLS). 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. All information is deemed reliable but is not guaranteed accurate by SWMLS. Built by the Barker Realty Marketing department.
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