Multifamily For SALE
3421 Aztec Rd NE - Five Adjacent Fourplexes in North I-25 Corridor
3421 Aztec Rd NE, Albuquerque, NM 87107
- Category Multifamily
- Status AVAILABLE
- Type For Sale
- Lot Size 0.18 Acres
- Building Size 1,886 SF
- APN 101606050013841101
- Asking Price $1,350,000
ORIGINAL CONSTRUCTION DATE: 1979
The Aztec Portfolio is comprised of five adjacent fourplexes which underwent a full renovation in 2014, including new TPO roofs, exteriors/windows, and some interiors.
There are a few noteworthy opportunities: The current
owner has converted two of the twenty units from studios to 1 bed/1 bath units by adding a wall between the kitchen and sleeping area. The cost of labor and material was approximately $2,000 for each conversion. If a new owner converts ten studios to 1 bed/1 bath units and upgrades some of the interiors, the gross income at full occupancy could increase by 23.27%. Secondly, the fourplexes are aligned in a quadrant, which allows the owner to control the area and community.