Priced at $450,000, 134 Rhode Island St SE is a two-story fourplex located in Southeast Albuquerque. This 3,060 sq. ft. property offers four (4) 2-bedroom, 1-bathroom units on a 0.155-acre lot and is located near Central Ave, Zuni Rd, and major arterial routes, making it attractive to long-term renters.The property has a projected gross income of $57,600 annually. With estimated annual operating expenses of $36,122, the pro forma net operating income (NOI) is approximately $38.522, yielding a projected cap rate of 6.2%, with a 29.80% before tax IRR. This listing is part of a larger portfolio that includes two single-family income-producing homes. The seller is offering a Real Estate Contract REC at 5.5% to qualified investors.
Daria Derebera
Real Estate Broker in Albuquerque, NM
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