Multi-family home for sale: $410,000 – 3413 Eastern Ave SE, Albuquerque, NM 87106

Updated four plex featuring all two bedroom, one bath units. Two units have been fully renovated with new bedroom flooring, new kitchen cabinets and countertops and stacked washer and dryer units. Seller has installed new CMU court yard walls on the front of each unit. One unit is currently vacant and being used for storage. The new owner will need to update the electrical service in order to rent this unit. Current numbers at 75% occupancy with a 5% vacancy allowance, and a 5% maintenance allowance results in a CAP rate of 6.76 and GRM or 10.95 with one vacancy. If rents were raised to $1222.00 a CAP of 11.94 and GRM of 6.99 would be achieved. Seller will sell single buildings or any combination thereof including all four buildings. See 3409, 17 & 3421 Eastern listings.

$410,000

3413 Eastern Ave SE, Albuquerque, NM 87106