NM > Albuquerque
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
Albuquerque, NM 87106,1601-1617 Gold AVE SE #48
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Jordan O'Bryan

Jordan O'Bryan

+1(505) 264-0304
Listed by Berger Briggs RE & Prop Mgmt
$ 3,250,000
Est. payment | /mo

0.8 Acres Lot

Save
$ 3,250,000
Est. payment | /mo
Save

0.8 Acres Lot

Key Details

Property Type Single Family Home, Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1087551

HOA Y/N No

Annual Tax Amount $14,873

Lot Size 0.800 Acres

Acres 0.8

Lot Dimensions Other

Property Sub-Type Other

Property Description

Terrace Gardens Apartments is a 48-unit multifamily asset located just blocks from the University of New Mexico in Albuquerque's highly sought-after student housing corridor. Comprising 36 studios, 8 one-bedroom one bathroom, 2 two-bedrooms, one bathroom, and 1 three-bedroom one bathroom units, the property spans four contiguous lots totaling +/-35,000 SF with 18,511 SF of rentable area.With current average rents at $710.00/unit and 77% occupancy, this property presents significant upside. The UNM submarket boasts average studio rents of $860 and one-bedrooms at $1,168, highlighting a clear opportunity for rental growth. A 2026 pro forma projects a stabilized cap rate of 7.71% and GRM of 8.27, with a net operating income of $262,925.

Location

State NM

County Bernalillo

Area 42 - Unm South

Interior

Heating Floor Furnace, Radiant Floor, Wall Furnace

Cooling Evaporative Cooling

Fireplace No

Exterior

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

Water Access Desc Community/Coop

Total Parking Spaces 40

Building

Story 3

Water Community/ Coop

Others

Tax ID More than one

Acceptable Financing Cash

Listing Terms Cash

agent-avatar

+1(505) 264-0304

jordan.obryan@purelyabq.com

150 Washington Avenue Ste. 201, Fe, NM, 87501, United States

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1601-1617 Gold AVE SE #48