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705 - 707 12th St NW 705 12th St NW

4 Unit Apartment Building $285,000 ($71,250/Unit) 7.09% Cap Rate Albuquerque, NM 87102

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Executive Summary

Downtown Diamond in the Rough – 4plex – starting price $285,000
On behalf of the Owners, NM Apartment Advisors and Deacon Property Services are honored to bring to market this unique Fourplex in downtown Albuquerque.
Excellent location just off 12th and Lomas gives quick and easy access to great shopping, restaurants, old town, and the Saw Mill District.
The property features a 1915 Adobe house with enclosed framed porches that has been converted into a fourplex in the 1930's. Three units downstairs with an attic apartment. Heavy textured walls, faux fireplaces and wood floors. Large double 50' x 142' lot with alley access.
Four distinct apartments offer well-preserved vintage character and charm. Residents love the built-ins, the raised ceilings, great natural light, and the gleaming wood floors. All units are separately metered for gas and electric. Shared water heater in separate cellar space. New 2024 roof with transferable warranty. Seller has also recently updated major portions of the water and sewer lines.

This property offers tremendous upside for investors with vision and extra capital for renovations. Unique lot also offers plenty of parking options off 12th and the alley to the west in addition to private yard spaces for 3 of the apartments and additional space for an ADU / casita or…..?

The property is being marketed using the BID process, with a set date and time for property tours and a fixed offer deadline. In the event of multiple offers, the Seller will be inviting only the top 50% of buyers to a best and final round.
http://www.nmapartment.com/12th707nwfront
http://www.nmapartment.com/12th707nwback
http://www.nmapartment.com/12th707attic
Qualified Investors can register for the zoom tour and access to the confidential document center with the online confidentially agreement at http://www.nmapartment.com/12th707
27 page flyer at http://www.nmapartment.com/apt/NMAA-12th707nw.pdf
Timelines:
Register for the confidential documents and property tour at http://www.nmapartment.com/12th707
- Attend the Zoom property tour at noon on Tuesday, December 3rd, 2024 (no other showing times are available, so please do not request one outside this time frame).
- Offer deadline at 5pm on Thursday, December 5th, 2024.
Do not miss out on this out of the world opportunity to polish this diamond in the rough!
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
And
Kyle Deacon
QB #15579
Deacon Property Services LLC
(505) 878-0100

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Property Facts

Price	$285,000	Property Subtype	Apartment
Price Per Unit	$71,250	Apartment Style	Garden
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	7.09%	Building Size	2,015 SF
Gross Rent Multiplier	7.91	No. Stories	2
No. Units	4	Year Built	1938
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$285,000
Price Per Unit	$71,250
Sale Type	Investment
Cap Rate	7.09%
Gross Rent Multiplier	7.91
No. Units	4
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Lot Size	0.17 AC
Building Size	2,015 SF
No. Stories	2
Year Built	1938
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.