9238 4th ST NW, Albuquerque, NM 87114
9238 4th ST NW, Albuquerque, NM 87114
9238 4th ST NW, Albuquerque, NM 87114
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Listed by Keller Williams Realty
$665,000
Est. payment /mo
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5 Beds
4 Baths
3,575 SqFt
New

9238 4th ST NW Albuquerque, NM 87114

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Brad Leigh Patton

Brad Leigh Patton

+1(505) 917-5133

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,575 sqft

Price per Sqft $186

MLS Listing ID 1110084

Bedrooms 5

Construction Status Resale

HOA Y/N No

Year Built 1979

Annual Tax Amount $6,800

Lot Size 0.470 Acres

Acres 0.47

Lot Dimensions Survey

Property Sub-Type Multi Family

Property Description

6Plex on nearly 1/2 an acre in Albuquerque's North Valley, one of newest small multifamily properties to reach this corner of the market in some time. The potential for strong future growth is tremendous for this location. Two unique buildings sit well apart on a 0.48-acre parcel, a site size that is genuinely rare at this unit count and leaves room to breathe. The mix: 2 one-bedrooms units, these have potential to be renovated from 1 to 2 bedroom apartments, 1 two-bedroom and 3 studios. Those studios are showing documented STR operating history. Built in 1979, this is not the 1940s and 1950s stock that makes up nearly all of the city's small multifamily inventory. The comparable 5-to-10 unit properties that have closed in this market average roughly 80 years old, whereas this one is only 47 years young.Established on 4th St. corridor between Paseo Del Norte and Alameda: low-density, tree-lined, under 2 miles from Balloon Fiesta Park. I-25 puts the metro core, Kirtland and Sandia Labs within an easy drive, while the Rio Rancho employment corridor, Intel's expanding campus and Presbyterian Rust Medical Center sit minutes across the river. County drainage, bike lane and ADA improvements are underway on 4th itself. There is real room to run here. Two units are currently leased meaningfully below what comparable space commands, and the furnished studios have been operated as short-term units. Either continue with that model OR place the entire property on traditional long-term leases. Newer than average construction, an unusually generous site, income in place and potential upside clearly identified, all in a corridor that has held solid demand for decades.See or ask about about our attached PDF Offer Memorandum for many more specific details.

Location

State NM

County Bernalillo

Area 100 - North Valley

Interior

Heating Ductless, Electric, Wall Furnace

Cooling Ductless, Evaporative Cooling

Flooring Carpet, Laminate, Vinyl

Fireplace No

Appliance Free-Standing Gas Range, Refrigerator

Exterior

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

Total Parking Spaces 10

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Construction Status Resale

Others

Tax ID 101606408044020712

Security Features Complex Fenced

Acceptable Financing Cash, Conventional, FHA, VA Loan

Green/Energy Cert None

Listing Terms Cash, Conventional, FHA, VA Loan

Southwest MLS (SWMLS IDX Plus)

Nearby Locations

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Brad Leigh Patton

Brad Leigh Patton

Broker Associate License ID: 52414

+1(505) 917-5133

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9238 4th ST NW