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Far Northeast Heights 4-Plex 2616 Muriel St NE 4 Unit Apartment Building $490,000 ($122,500/Unit) 6.21% Cap Rate Albuquerque, NM 87112
Executive Summary
-Pro forma cap rate: 6.21%
-Pro forma GRM: 8.67
-In-place Rents roughly 8.5% below market
-Roof replaced in 2022
-In-unit Washer/Dryer hookups
-Proven Northeast Heights rental market
-Seller financing available
-Pro forma GRM: 8.67
-In-place Rents roughly 8.5% below market
-Roof replaced in 2022
-In-unit Washer/Dryer hookups
-Proven Northeast Heights rental market
-Seller financing available
Property Facts
| Price | $490,000 | Property Subtype | Apartment |
| Price Per Unit | $122,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.21% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 8.67 | Building Size | 3,003 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1978 |
| Zoning | MX-L | ||
| Price | $490,000 |
| Price Per Unit | $122,500 |
| Sale Type | Investment |
| Cap Rate | 6.21% |
| Gross Rent Multiplier | 8.67 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,003 SF |
| No. Stories | 1 |
| Year Built | 1978 |
| Zoning | MX-L |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 3 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 1-021-059-507419-1-13-16 | Improvements Assessment | $76,684 |
| Land Assessment | $15,765 | Total Assessment | $92,449 |
Property Taxes
Parcel Number
1-021-059-507419-1-13-16
Land Assessment
$15,765
Improvements Assessment
$76,684
Total Assessment
$92,449
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Far Northeast Heights 4-Plex | 2616 Muriel St NE
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