134 Rhode Island St SE

Priced at $450,000, 134 Rhode Island St SE is a two-story fourplex located in Southeast Albuquerque. This 3,060 sq. ft. property offers four (4) 2-bedroom, 1-bathroom units on a 0.155-acre lot and is located near Central Ave, Zuni Rd, and major arterial routes, making it attractive to long-term renters.

The property has a projected gross income of $57,000 annually, with a 5% vacancy allowance ($54,000). With estimated annual operating expenses of $20,700, the pro forma net operating income (NOI) is approximately $33,400, yielding a projected cap rate of 7.42%, with a 27.52% IRR on a five-year hold.

Tenants enjoy practical amenities such as gated access, private balconies (in upper units), security doors, and on-site parking. Zoned MX-L (Mixed-Use Low Intensity), the property provides long-term flexibility for multifamily or future redevelopment.

This listing is part of a larger portfolio that includes two single-family income-producing homes.  Please contact Tai Alley at 505 980-6151 if you would like more information on the complete portfolio. The seller is offering a Real Estate Contract REC to qualified investors at very attractive terms for this property and the complete portfolio.