1303-1305 Iron Avenue SW, Albuquerque, NM 87102
- $275,000
- 1
- BD
- 1
- BA
- 1,128
- SqFt
- List Price
- $275,000
- MLS#
- 1109233
- Property Type
- Multifamily
- Bedrooms
- 1
- Bathrooms
- 1
- Sqft. of Residence
- 1,128
- Lot Size
- 7,057
- Region
- Downtown Area
- Status
- ACTIVE
Property Description
Located just minutes from Downtown Albuquerque and Old Town, the property is within walking distance of Rio Grande Pool, Rio Grande Park, the ABQ BioPark Zoo and nearby neighborhood amenities. It also offers convenient bicycle access to Downtown, Old Town Plaza and the extensive trail system along the Bosque and Rio Grande.Offered at $275,000, or $137,500 per unit, the property provides an attractive entry point into Albuquerque's multifamily investment market. Current underwriting reflects a 6.19% cap rate, with projected rent growth providing additional upside.The property features two one bedroom/one bathroom units. The extra lot contains 0.1618 acres with alley access and space for additionalbuilding(s).Do not wait, apartments continue to show strong appreciation coupledwith high rent growth potential from all of the new Amazon, Facebook,Intel, and Netflix jobs entering the market.
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Additional Information
- County
- Bernalillo
- Subdivison
- Raynolds Addition
- Acres
- 0.16
- Appliances
- Free-Standing Gas Range, Refrigerator
- Construction
- Stucco
- Flooring
- Vinyl
- Heating
- Wall Furnace
- Owner Pays
- Sewer, Trash Collection, Water
- Utilities
- Cable Connected, Electricity Connected, Sewer Connected, Water Connected
- Zoning
- R-ML*
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Listing courtesy of Maestas Real Estate Services.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.