An Incredible opportunity for a multi-family investor, non-profit housing organization or government housing authority to acquire a forty-two-unit turnkey property in Albuquerque’s far northeast corridor.

The forty-two units have been painstakingly remodeled and feature furnished studio units with new flooring, new cabinets, new bathroom vanities, new refrigerator, bed and microwave ovens.

There is a large reception area with multiple offices, and a large bathroom with walk in shower, and a second bathroom with a combination tub/shower. This space could also be modified for an owner’s unit in the event of a private buyer. There is also a common laundry room for use by the residents.

The property is completely fenced and gated, with two personnel gates, and an electric drive-in gate. Restaurants, grocery stores and a movie theater are within walking distance of the property.

The property is currently unoccupied and ready for a new owner or organization to fill forty-two studio units.

At $832.00 per month, 100% occupancy the property would yield NOI of $322,182.24, 10 CAP and 7.67 GRM. The property is aggressively priced at $3,200,000.00, or $76,190.00 per unit. The seller will consider a short-term real estate contract at 7% interest with a significant down payment.

Bill Reed

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