4-Plex with 5.5% Owner Financing
2 bed/1-Bath 4-Plex with Flexible Terms
Marketing description
Priced at $350,000, 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 $46,800 annually. With estimated annual operating expenses of $17,275, the pro forma net operating income (NOI) is approximately $29,525, yielding a projected cap rate of 8.4% and a 36.66% 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 at very attractive terms for this property and the complete portfolio.
Investment highlights
Asking Price $350,000
Average Rent: $900.00/Unit
Cap Rate: 8.3%
Before Tax IRR 36.66%
Before Tax
Cash on Cash 11.89%
12 month NOI: $26,970
Price/ Unit $87,500/Unit
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