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This cash-flowing 4-unit building is comprised of four 1-bedroom, 1-bathroom apartments each with an enclosed backyard. One unit was vacated at the beginning of January 2023 and is in the process of being renovated and rented. Amenities and recent improvements include: fresh exterior paint, newer evaporative coolers (each unit), updated bathrooms and kitchens (3 of 4 units). This multifamily investment opportunity is in the University area near Kirtland Air Force Base, Sandia National Laboratories, the upcoming MaxQ mixed-use development at Kirtland, the regional VA Medical Center, the Puerta del Sol Golf Course, and the city's extensive transit system. The property is professionally managed and fully occupied. Investment performance metrics: 6.93% cap rate, 9.18 GRM, $40,200 gross income.

Listing ID1022105
Price$369,000$6K
StatusActive
Bedrooms1
Total Baths1
SqFt 1,875
Acres 0.170
CountyBernalillo
SubdivisionKNOB HEIGHTS ADDN
Year Built1951
Property TypeResidential Income
Property Sub TypeQuadruplex

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Myers & Myers Real Estate, Inc.
Albuquerque, NM 87122
United States
Phone: 505-401-7500

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