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13207 Mountain Pl NE 13207 Mountain Pl NE

4 Unit Apartment Building $597,607 ($149,402/Unit) 5.65% Cap Rate Albuquerque, NM 87112

Executive Summary

Back to market before back to school– courtyard style, FAR NE heights fourplex on corner lot with room for more.
NM Apartment Advisors is excited to bring to market this rare opportunity to own a Far North East Heights, large corner-lot, owner occupant style fourplex. Potential uses for the extra land include a small casita, RV Storage, dog run, community garden, a wood/workshop and so much more.
Units A & B have separate back yard spaces and all units have a separate storage unit. Community coin operated laundry is adjacent to the common gathering. The evaporative coolers were replaced 2021 and all furnaces are relatively new. Full inspection reports available to qualified investors who complete the online confidentially agreement at www.nmapartment.com/13207MountainPlNE
Besides the spacious units, the main amenity for this property is the quiet and serene NE Heights neighborhood close to foothills trails and shopping.
24 page flyer at http://www.nmapartment.com/apt/NMAA-Mountain13297NE.pdf
Virtual Tour of Unit A - http://www.nmapartment.com/mountain12307NE3d
Virtual Tour of Unit B - http://www.nmapartment.com/mountain12307NE3d2
Measures of investment performance at ask price of $597,607 and average rents, as of $1,069 are a GRM of 11.65, a 5.56% cap rate, $149,902 per unit, $186/sf. (Note average rents on this property are up 7.555 from 4 months ago!)
If rents are raised to market rents of $1,425, the measure of investment performance improve to a GRM of 8.74, and a cap rate of 6.87%.
Do not wait, the market inventory is very low in owner occupant properties like this amazing fourplex.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

Property Facts

Price $597,607
Price Per Unit $149,402
Sale Type Investment
Cap Rate 5.65%
Gross Rent Multiplier 11.65
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.29 AC
Building Size 3,152 SF
No. Stories 1
Year Built 1979

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 4 $1,038 788

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1-022-058-433142-4-15-50
Land Assessment
$20,965
Improvements Assessment
$77,659
Total Assessment
$98,624

zoning

Zoning Code PD (Planned Development. Low Density Residential.)
PD (Planned Development. Low Density Residential.)
  • Listing ID: 31785422

  • Date on Market: 5/13/2024

  • Last Updated:

  • Address: 13207 Mountain Pl NE, Albuquerque, NM 87112

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