Multifamily For SALE
3620 Crest Ave SE - Value-Add 40-Unit Multifamily Property
3620 Crest Ave SE, Albuquerque, NM 87108
- Category Multifamily
- Status AVAILABLE
- Type For Sale
- Lot Size 1.21 Acres
- Number of Units 40
- APN 101705602802730106
- Asking Price $2,350,000
ORIGINAL CONSTRUCTION DATE: 1980
This property has tremendous value for an investor.
The 1-bed/1-bath units are approximately
33% below market rate for renovated units,
and the 2-bed/1-bath units are approximately
46% below market rate for renovated units.
The property has a fully-gated, quiet entrance
off of Crest Ave. SE and the three buildings
are configured in a “U” shape. With estimated
renovation costs between $400,000-$500,000,
the property could be entirely repositioned as
an high-end apartment complex. There is an
on-site, shared laundry facility and all units are
individually metered for gas and electric so tenants
can pay their respective utility bills. The
landlord can pay for water, sewer, and refuse.
The property is surrounded by single and multifamily
homes, many of which have been renovated.
Bandelier Elementary School is 1 mile
north, UNM main campus is 2.4 miles northwest,
and Ridgecrest Park is 1 mile north of the