300 Rhode Island Street Se, Albuquerque, NM


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About 300 Rhode Island Street Se

New Mexico Apartment Advisors is pleased to bring El Pueblito, a 15 unit apartment community back to market. Available for the first time in decades, this value add opportunity is an amazing chance to build on the pueblo modern architecture while pursuing the double digit rent growth the city of Albuquerque is currently undergoing.Located on a traffic calming cul-de-sac, 300-314 Rhode Island SE has classic NM architecture in a three building family compound layout.With the average rents of $576 and at the ask price of $956,188 the measures of investment performance include a GRM of 9.22, a before reserves cap rate of 6.81% and an after tax IRR of 16.9%.

Features of 300 Rhode Island Street Se

MLS® # 1032229
Price $956,188
Bedrooms 1
Bathrooms 1.00
Acres 0.62
Year Built 1956
Type Residential Income
Sub-Type Multi Family
Status Active

Community Information

Address 300 Rhode Island Street Se
Area 71 - Southeast Heights
Subdivision Casas Serenas
City Albuquerque
County Bernalillo
State NM
Zip Code 87108


Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Is Waterfront No
Has Pool No


Interior Tile
Appliances Refrigerator
Heating Wall Furnace
Cooling Evaporative Cooling, Window Unit(s)
Fireplace No
# of Stories 2
Stories Two


Construction Frame

Additional Information

Date Listed April 6th, 2023
Days on Market 378
RE / Bank Owned No

Listing Details

OfficeNM Apartment Advisors, Inc.

Listing Map

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