Listed By NM Apartment Advisors, Inc., Todd D Clarke
130 RHODE ISLAND ST SE Albuquerque, NM 87108
$373,105
2
Bedrooms
1
Total Baths
—
Full Baths
3,000
Square Feet
0.16
Acres
1980
Year Built
Active
Status
MLS#
1058183
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
Details for 130 RHODE ISLAND ST SE
*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office NM Apartment Advisors, Inc., (505) 440-8633
MLS# 1058183
Updated 11:56AM - 4/30/2024
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