316 Rhode Island Street NE Albuquerque, NM
$ 379,000
Property Attributes
  • MLS#969832
  • TypeMulti-Family
  • CityAlbuquerque
  • AreaFairgrounds
  • Zip87108
  • StyleMulti Family
  • Year Built1959
  • Taxes4637
  • Price$ 379,000
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage5400
  • Lot Size0.3 Acres
Listing Provided Courtesy Of:
EXP Realty LLC
Property Description

Fantastic opportunity to own a well maintained, cash flowing, fully leased, multifamily investment with an owners' unit. Each triplex is on its own lot. Owner prefers to sell in one transaction to a one buyer. Improvements in 2019 include a new TPO roof on 320 (10 yr. warranty) and two new water heaters. Property features a beautifully landscaped courtyard, covered back patio area, and unit storage. Unit 3 (316) has forced air heating while others have wall heaters. There is an enclosed workshop in the back of Unit 3 (316) with additional storage space. Units are all 2/1 with spacious layouts. Property rents easily. With a CAP rate of 8.4% and an after-tax IRR of 20.0% (assuming a 5-year hold), this property will be a great addition to anyone's portfolio.

Price History
6/10/2020 Listed $199,000

General Features

Appliances Refrigerator
Construction Materials Block, Frame
Cooling Evaporative Cooling
Electric None
Exterior Features Landscaping
Flooring Carpet, Laminate, Tile
Heating Central, Forced Air, Radiant
Interior Features Storage
MLS Area 70 - Fairgrounds
Property SubType Multi Family
Property Type Residential Income
PropertyCondition Resale
Stories 1
Terms Cash, Conventional, FHA
Total Units 6
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Zoning Description R-ML*

Interior Features

Heating Y/N Yes
Laundry Features Washer Hookup, Dryer Hookup, Electric Dryer Hookup
Living Area 5400
Total Baths 1
Total Bedrooms 2

Exterior Features

Lot Size Acres 0.3
Lot Size Source Public Records
Lot Size Square Feet 13068
Number of Buildings 2


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 87108

AVG $420K
AVG $2,845
AVG 30
Year Built
AVG 1967
AVG 71
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.