126 Rhode Island Street SE Albuquerque, NM
$ 308,963
Property Attributes
  • MLS#1006633
  • TypeMulti-Family
  • CityAlbuquerque
  • AreaSoutheast Heights
  • NeighborhoodLot 5 - Block 2 - Unity Addition
  • Zip87108
  • StyleQuadruplex
  • Year Built1980
  • Taxes$ 1951
  • Price$ 308,963
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage3000
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Data Source:
Southwest MLS (SWMLS)
Property Description

Did you know that the average fourplex sales price of $322,844 reflects an appreciation of 31% between 2020 to 2021? Or that 25% of the fourplex market is in product that sold for more than $400,000?The fourplexes can be bought individually or together as they sit on their own individual lots.Each property has had recent renovations including new roofs (2017-2018) and upgrades.126 Rhode Island SE has slightly higher income (average rents of $638) and at the ask price of $308,963 the measures of investment performance include a GRM of 10.10, a before reserves cap rate of 5.74% and an after tax IRR of 16.00%. If rents are raised to the market of $750, the measures of investment performance improve to a cap rate of 6.83%, and cash on cash of 10.01%

Price History
1/3/2022 Listed $308,963

General Features

Additional Parcels Y/N Yes
Appliances Refrigerator
Construction Materials Frame
Cooling Evaporative Cooling
Electric None
Flooring Vinyl
Heating Central, Forced Air
Levels Two
Listing Agent State License 13711
Lot Size Square Feet 6970
MLS Area 71 - Southeast Heights
Property Sub Type Additional Quadruplex
Property SubType Quadruplex
Property Type Residential Income
PropertyCondition Resale
Status Active
Stories 2
Subdivision Name Lot 5, Block 2, Unity Addition
Terms Cash, Conventional, FHA, VA Loan
Total Units 4
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Zoning Description MX-L*

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes
Living Area 3000
Total Baths 1
Total Bedrooms 2

Exterior Features

Lot Size Acres 0.16
Lot Size Source Public Records
Number of Buildings 1


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 87108

AVG $380K
AVG $2,281
AVG 52
Year Built
AVG 1966
AVG 69
Data Provided by Walkscore ® not using MLS data

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