13207 Mountain PlAlbuquerque, NM 87112

Property Details for 13207 Mountain Pl

Year built

1979

Lot size

0.27 AC

Property size (Sq ft)

3,204 SF

Property type

Apartment buildings

Description

This exceptional Albuquerque investment opportunity presents a 4-unit apartment building situated on a sizable 0.27-acre corner lot in the desirable Far Northeast Heights. Built in 1979, this property features two single-story buildings, each offering spacious units. The property boasts a total of 3,204 square feet, with each unit averaging 801 square feet. Units A and B enjoy private backyard spaces, and all units include individual storage units. A shared coin-operated laundry adds convenience. Recent upgrades include the replacement of evaporative coolers in 2021, and furnaces are relatively new. The property's current NOI is $33,737, yielding a 5.65% cap rate at the asking price of $597,607. A pro-forma NOI of $40,171 projects a 6.72% cap rate, reflecting potential for increased rental income. The permitted zoning (PD) allows for potential expansion or additional uses of the ample lot size, such as a casita, RV storage, or other improvements. The property's location offers proximity to hiking trails and shopping amenities. This is a rare opportunity to acquire a well-maintained, owner-occupant style fourplex in a highly sought-after neighborhood with significant upside potential. The property is zoned PD.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0905

Longitude

-106.501

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