$1,907,228

1225-1241 Menaul Boulevard NW

Albuquerque NM, 87107

Description

Amazing 20 unit apartment complex investment opportunity that has gone complete remodel in 2018! Recent property improvements including new roof, HVAC, stucco repair and new paint, new carpet and vinyl flooring, and many other updates. The property is currently leased ''introductory'' lease rates averaging $707. Market lease rates for the trade area are estimated to be approximately $850 per month, giving the new owner of this property significant potential upside. New owner also has an opportunity to remodel 7 interior units to maximize their returns. There is also 0.7117 Acre of land available for sale zoned R-ML to develop additional multifamily units. Hurry and take advantage of this fast developing trade area!

Details

MLS#949365
Sub-TypeResale
StatusActive
Year1980
Days On Site64

Features

SQ Feet16,320
Units20
Building(s)5

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87107
Area101 - Near North Valley
Listing VS Median (in 87107)
Price:
$1,907,228
low | high
Med:
$363,000
100% of Average
SqFt:
16,320
low | high
Med:
2,600
100% of Average
$ / SqFt:
$117
low | high
Med:
$140
30.532213404843% of Average
On Site:
64
low | high
Med:
180
35.555555555556% of Average
Listing Updated: 09/15/2019
MLS Number: 949365
Listing Provided By:
Alfredo Barrenechea  of  Absolute Investment Realty
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