office 505-308-3800
126 Rhode Island Street SE, Albuquerque, NM
$ 326,031
Property Attributes
  • MLS#1006633
  • TypeMulti-Family
  • CityAlbuquerque
  • AreaSoutheast Heights
  • NeighborhoodLot 5 - Block 2 - Unity Addition
  • Zip87108
  • StyleQuadruplex
  • Year Built1980
  • Taxes$ 1951
  • Price$ 326,031
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage3000
  • Lot Size6,970 SqFt
Data Source:
Southwest MLS (SWMLS)
Property Description

Did you know that the average fourplex sales price of $322,844 reflects an appreciation of 31% between 2020 to 2021? Or that 25% of the fourplex market is in product that sold for more than $400,000? Or that fourplexes in Q1-2022 appreciated an additional 12%?The fourplexes can be bought individually or together as they sit on their own individual lots.Each property has had recent renovations including new roofs (2017-2018) and upgrades.126 Rhode Island SE has slightly lower income (average rents of $669) and at the ask price of $326,031 the measures of investment performance include a GRM of 10.16, a before reserves cap rate of 5.87% and an after tax IRR of 15.40%. If rents are raised to the market of $875, the measures of investment performance improve to a cap rate of 7.99%

Price History
1/3/2022 Listed $308,963

General Features

Additional Parcels Y/N Yes
Appliances Refrigerator
Construction Materials Frame
Cooling Evaporative Cooling
Electric None
Heating Central, Forced Air
Levels Two
Listing Agent State License 13711
Lot Size Square Feet 6969.6
MLS Area 71 - Southeast Heights
Property Condition Resale
Property Sub Type Additional Quadruplex
Property SubType Quadruplex
Property Type Residential Income
Status Active
Stories 2
Subdivision Name Lot 5, Block 2, Unity Addition
Terms Cash, Conventional, FHA, VA Loan
Total Units 4
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Zoning Description MX-L*

Interior Features

Air Conditioning Y/N Yes
Flooring Vinyl
Heating Y/N Yes
Total Baths 1
Total Bedrooms 2

Exterior Features

Living Area 3000
Lot Size Acres 0.16
Lot Size Source Public Records
Number of Buildings 1


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 87108

AVG $500K
AVG $2,612
AVG 28
Year Built
AVG 1967
AVG 63
Data Provided by Walkscore ® not using MLS data

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