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213 63RD Street NW

Albuquerque, NM 87105
  • $329,900
  • STATUS: Active
  • ON SITE: 307 Days
  • MLS #: 1056742
UPDATED: 61 min ago
$329,900
  • 4
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,160
    SQFT
  • $153
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Description

Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.

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IDX information © 2024 The Southwest Multiple Listing Service, Inc. 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. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Rush Real Estate Group | Realty One of New Mexico. Data last updated: 2024-12-11T13:05:26.103.
www.albuquerquerealestateservices.com/homes/147345987
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213 63RD Street NW Albuquerque, NM 87105

  • Price: $329,900
  • Status: Active
  • On Site: 307 Days
  • Updated: 61 min ago
  • MLS #: 1056742
4
Beds
4
Baths
0
½ Baths
0.16
Acres
2,160
SQFT
$153
$/SQFT
1984
Built
Neighborhood:
111 - Ladera Heights
County:
Bernalillo
Area:
111 - Ladera Heights
Property Description
Introducing the Four-plex at 213 63rd St. These are 4 one bath one-bedroom units located close to shopping, restaurants, and freeway access, I40. The units have an open floor plan, renovated kitchens and bathrooms, in the recent past. Great starter property, the CAP rate based on current rents of $750 per unit is 5.46, market rents, or FMR are $1050 per unit. At $875 per unit yields a return of over a 7 CAP, without pushing rents to their maximum. And this leaves room to grow to a 9 CAP. This property is priced at $137.50 per sq ft, $82,475 per unit. Well below market, with construction costs running at $200 to $250 per ft, and units selling at $100,000 to $150,000 per door. This is a bargain, seller is leaving the state, and wants this sold.
Exterior Features

Construction Materials Frame Stucco Exterior Features Lighting Levels One Stories Total 1

Interior Features

Appliances Free- Standing Electric Range Refrigerator Range Hood Self Cleaning Oven Basement YN No Cooling Evaporative Cooling Ceiling Fan(s) Cooling YN Yes Electric None Flooring Carpet Laminate Tile Heating Central Forced Air Heating YN Yes Interior Features Ceiling Fan(s)

Property Features

Builder Name UNKNOWN Building Area Total 2160 Green Energy Generation None Green Water Conservation Low- Flow Fixtures Gross Income 34869 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional FHA New Construction YN No Operating Expense 17500 Property Condition Resale Property Sub Type Quadruplex Property Sub Type Additional Quadruplex Tax Annual Amount 2676.46 Tenant Pays Electricity Gas Utilities Electricity Connected Natural Gas Available Phone Connected Sewer Connected Water Connected Zoning Description R- ML*

Southwest MLS] logo Listing courtesy of T & C Management, LLC: (505) 268-1181. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 The Southwest Multiple Listing Service, Inc. 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. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Rush Real Estate Group | Realty One of New Mexico. Data last updated: 2024-12-11T13:05:26.103.
 
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Rush Real Estate Group | Realty One of New Mexico
8500 Menaul Blvd. NE, Suite A-240
Albuquerque NM, 87112