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Multifamily

616 Alcazar St SE

616 Alcazar St SE, Albuquerque, NM 87108

Listing Price: $532,000

Cap Rate
7.00%
Number of Units
8
Occupancy
100.0%
Price/Unit
$66,500
Price/Gross SF
$112.09
Gross SF
4,746

Investment Overview

Marcus & Millichap is pleased to present 616 - 620 Alcazar SE, Albuquerque, NM 87108. The 4,746 square foot apartment building is 100% occupied. The property consists of 4, 1 bed, 1 bath and 4 2 bed, 2 bath units for a total of 8 units. Originally built in 1972 each unit is separately metered for gas and electric, water is on master. The current owner pays for all the utilities except one unit. The roof was replaced last year along with the addition of ceramic tile in living rooms, kitchen and bathrooms. The property is securely gated by lock and each tenant has a separate key to the front gate. There is a laundry room on-site that adds additional income to the property. There is an opportunity to increase cash flow through rent raises and tenants transferring utilities into their own names.

Investment Highlights

  • Fully Occupied
  • Ability to add value by increasing rents and tenants to pay utilities
  • New Roof, Ceramic Tile, Laundry Room On-Site

Exclusively Listed By

Listing Price: $532,000

Cap Rate
7.00%
Number of Units
8
Occupancy
100.0%
Price/Unit
$66,500
Price/Gross SF
$112.09
Gross SF
4,746

Investment Highlights

  • Fully Occupied
  • Ability to add value by increasing rents and tenants to pay utilities
  • New Roof, Ceramic Tile, Laundry Room On-Site

Investment Overview

Marcus & Millichap is pleased to present 616 - 620 Alcazar SE, Albuquerque, NM 87108. The 4,746 square foot apartment building is 100% occupied. The property consists of 4, 1 bed, 1 bath and 4 2 bed, 2 bath units for a total of 8 units. Originally built in 1972 each unit is separately metered for gas and electric, water is on master. The current owner pays for all the utilities except one unit. The roof was replaced last year along with the addition of ceramic tile in living rooms, kitchen and bathrooms. The property is securely gated by lock and each tenant has a separate key to the front gate. There is a laundry room on-site that adds additional income to the property. There is an opportunity to increase cash flow through rent raises and tenants transferring utilities into their own names.

Exclusively Listed By

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