REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Audra Iversen

boitanoteam@gmail.com +1(505) 321-6192

Listed by NM Apartment Advisors, Inc.

$795,000

Est. payment - /mo

6 Beds

6 Baths

4,119 SqFt

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,119 sqft

Price per Sqft $193

Subdivision Perfecto Armijo Brothers

MLS Listing ID 1113715

Bedrooms 6

Construction Status Resale

HOA Y/N No

Year Built 1931

Annual Tax Amount $4,831

Lot Size 10,018 Sqft

Acres 0.23

Lot Dimensions Survey

Property Sub-Type Multi Family

Property Description

Within walking distance of breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, parks and the city's primary courthouses, this property gives residents a front-row seat to the energy of Downtown and convenient access to Old Town.Tucked behind classic white picket fences, the two buildings - originally constructed in 1931 and 1936 - offer a total of 4,119 square feet on approximately 0.2296 acres. The six homes have distinctive floor plans, bright living spaces, hardwood floors, built-ins, full kitchens, private yard areas, in-unit washers and dryers, and convenient on- and off-street parking. It is the kind of small-scale, character-rich downtown investment that stands out from the crowd.Owner-Occupant OpportunityWhy buy just one home when you could live in one residence and collect rents from the others? The updated 26-page flyer includes an illustrative owner-occupant analysis showing a net monthly housing cost as low as $770 with a 25% down payment. That figure is a projection, not a loan quote or guarantee; actual results depend on occupancy, financing, expenses and rents.Furnished / Vacation-Rental PotentialFor buyers interested in other operating strategies, the flyer also explores the potential for vacation rentals in the Downtown / Old Town area. Short-term or furnished-rental use, any applicable approvals, licensing, operating costs and projected income should be independently verified.Investment Performance - Six-Unit OfferingThe combined asking price is $795,000 - $132,500 per unit, or $193.01 per square foot. As presented in the updated flyer, the offering has a 10.73 gross rent multiplier (GRM), a 6.19% capitalization rate before reserves and a modeled 13.40% after-tax internal rate of return (IRR). The flyer reports average rent of $1,083 for 2025 and models $1,275 for its 2027 pro forma, with a potential 7.73% capitalization rate before reserves and an 8.66 GRM. Projections are illustrative and are not assured.There is another noteworthy feature: the six homes occupy TWO separate parcels. The owners indicate that the two triplexes can also be sold and financed separately - an option for investors seeking flexibility in acquisition and financing.Get the Flyer, Numbers and Virtual ToursThe 26-page marketing flyer includes the APOD, return model, comparable-sales analysis, floor plans, photographs, surveys and zoning information. Register for additional information and confidential documents here:

Location

State NM

County Bernalillo

Area 80 - Downtown Area

Interior

Heating Central, Floor Furnace, Wall Furnace

Flooring Tile, Vinyl

Fireplace No

Appliance Dryer, Refrigerator, Washer

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Accessibility None

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Construction Status Resale

Others

Tax ID 101405809123234907

Acceptable Financing Cash, Conventional, FHA, VA Loan

Green/Energy Cert None

Listing Terms Cash, Conventional, FHA, VA Loan

Read Less Info

Nearby School & Business

Get More Information

Audra Iversen

+1(505) 321-6192

Realtor

907 7th & 901 ST NW Albuquerque, NM 87102

Audra Iversen

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information