Albuquerque, NM 87107
Two permitted houses on one lot. One loan, one tax bill, two rent checks. That is the pitch. The back house runs 1,391 square feet with 3 bedrooms and 2 baths. The second is 1,258 square… Show more
Two permitted houses on one lot. One loan, one tax bill, two rent checks. That is the pitch. The back house runs 1,391 square feet with 3 bedrooms and 2 baths. The second is 1,258 square feet, 3 bed and 1.5 bath, for roughly 2,649 square feet of rentable space. Both were built in 1940 and both are on record as legal dwellings, so the second unit is not a zoning argument waiting to happen at appraisal. Price reflects it an opportunity waiting for that savvy investor. What you are buying is a corrected rent roll, not a turnkey product. One side carries a tenant, so the numbers start working while the other side gets its rehab. North Valley, 87107, close to Fourth Street and a quick shot to I-40 and Old Town. Bring a contractor, run your own numbers, and schedule a showing.
Connect with a real estate agent today — Call/text (505) 521 8550
The North Valley is the low, irrigated stretch of Albuquerque between the Rio Grande and Interstate 25, running north from Interstate 40 to the Sandoval County line. Spanish farming villages took root along its acequias in the 1600s and 1700s, and the ditches still cross back yards and pastures.
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