2211 Rio Grande Boulevard NW
Albuquerque, NM 87104
MLS #909559

Multi-family
  • 26units
$850,000
Est. P&I payment: $3246.42/mo
2211 Rio Grande Boulevard NW, Albuquerque, NM 87104
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Description for 2211 Rio Grande Boulevard NW, Albuquerque, NM 87104
Built in phases between 1966 to 1974, this apartment community is in DIRE need or renovation work and represents a value add opportunity or a complete scrape, take advantage of the new zoning (R-MH from R-3) and almost double the number of dwelling units on site.This property is not for a timid, inexperienced buyer, but rather an experienced, seasoned developer/operator. 2 of the 3 main apartment buildings have been vacated due to structural issues. Please review the document center with the flyer, APOD, property info (note disclosure of major structural issues) and bid process info.Embedded in the high barrier to entry submarket known as the North Valley, the property offers a rare opportunity to own an (almost) one acre site zoned for apartments. Houses in area up to $998
MLS #909559
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My Notes for MLS #909559

General Features

  • Property Type: C
  • Units for Sale: 26
  • Approx Structured SqFt: 15,196
  • Year Built: 1974
  • Acres: 1
  • Total Number of Stories: 2
  • Total Number of Buildings: 4
  • Stories: 2
  • Property Sub-Type: 9 or More Units
  • 5+ Units: Yes
  • Age: 41 - 50
  • Number of Units: 26
  • Lot SqFt: 40,511
  • Zoning: R-3

Exterior Features

  • Exterior Material: Stucco

Interior Features

  • Basement: Basement: No
  • Unit Type 1: Number of Units: 24
  • Unit Type 1: Number of Bedrooms: 1
  • Unit Type 1: Number Baths: 1
  • Unit Type 1: Average SqFt: 518
  • Unit Type 2: Number of Units: 2
  • Unit Type 2: Number of Bedrooms: 2
  • Unit Type 2: Number Baths: 1
  • Unit Type 2: Average SqFt: 800
  • Unit Summary: Total Units: 26
  • Unit Summary: Average Unit Size: 540
  • Unit Summary: Average Actual Rent: 542
  • Unit Summary: Annualized: 169,200
  • Flooring: Carpet,​No Carpet,​Tile

Utility Features

  • Amenities: Balconies/Deck,​Laundry Community
  • Appliances included: None
  • Cooling: Some Units
  • Heating: Gas
  • Utilities: All City

Financial Features

  • Approximate Taxes: 9,500
  • List Price/SqFt: 56
  • Foreclosure: No
  • Unit Type 1: Average Actual Rent: 525
  • Unit Type 1: Max Rent: 525
  • Unit Type 1: Market Rent: 720
  • Unit Type 2: Average Actual Rent: 750
  • Unit Type 2: Max Rent: 750
  • Unit Type 2: Market Rent: 817
  • Unit Summary: Total Actual Rent: 14,100
  • Finance Considered: Cash,​Conventional
  • Owner Pays: Other - See Remarks
  • Tenant Pays: Other - See Remarks

Community Features

  • Subdivision: Mrgcd Map 35

Miscellaneous Features

  • Disability Access: No
  • Lead Base Paint: Yes
  • Construction: Frame

Location

 
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Directions to 2211 Rio Grande Boulevard NW, Albuquerque, NM 87104
From I-40 and Rio Grande - north to property - located on westside of the street
The listing information for 2211 Rio Grande Boulevard NW, Albuquerque, NM 87104 was graciously provided by our friends at the listing brokerage, NM Apartment Advisors, Inc.

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P&I Payment $3246.42
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on Southwest Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. Southwest Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 02/21/2018 at 11:23pm
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