12715 Dunes RdAlbuquerque, NM 87123

This exceptional investment opportunity presents a renovated four-unit apartment building situated in Albuquerque's desirable Singing Arrow neighborhood. The property, built in 1980, features a total of 3,928 square feet across two stories and boasts four spacious two-bedroom, one-bathroom units, each with a fireplace and washer/dryer connections. Downstairs units enjoy private backyard areas. Ample on-street and off-street parking is available, and the elevated location ensures excellent visibility. Currently generating a NOI of $25,253 (5.89% cap rate), the property offers significant upside potential. A pro-forma NOI of $36,553 (8.53% cap rate) is achievable with market-rate rents of $1,200 per unit. One unit is currently vacant and features brand new appliances (refrigerator, stove, and dishwasher), making it ideal for an owner-occupant. The property is conveniently located near grocery stores, shopping centers, a movie theater, and offers easy freeway access, excellent public transportation, and nearby bike paths. Its proximity to the Singing Arrow Community Center, with its before and after-school programs, adds to its appeal. The property is zoned R-ML and has an APN of 102205624930310556. The asking price is $428,763, representing a price per unit of $107,190.75 and a price per square foot of $109.16. This well-built fourplex presents a compelling investment opportunity in a strong rental market.