12715 Dunes Rd Albuquerque, NM 87123

Property Details for 12715 Dunes Rd

Year built

1980

Property size

3,928 SF

Property type

Commercial real estate

APN

102205624930310556

Description

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.