130 Rhode Island Street SE Albuquerque, NM 87108
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
- Property TypeMulti-Family
- NeighborhoodUnity Addition
- CountyBernalillo
- Taxes$2,019
- HOA/Condo/Coop Fees$0
- Days on Site92 Days
- MLS StatusPending
- MLS ID Number1058183
- Home Size Source N/A
- Year Built1980
- Lot Size0.16 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Number of Stories 222
- Acreage 0.16
- Zoning MX-L*
- Property Sub Type Quadruplex
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Evaporative Cooling
- Heating CentralForced Air
- Appliances Refrigerator
- Flooring Vinyl
Community Features
- MLS Area 71 - Southeast Heights