13207 Mountain Pl Albuquerque, NM 87112
- Commercial real estate
- 3,204 SF
- 0.27 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 13207 Mountain Pl
- Year built
- 1979
- Lot size
- 0.27 lot acres
- Property size
- 3,204 SF
- Property type
- Commercial real estate
- APN
- 102205843314241550
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Bernalillo
- State
- New Mexico
- Longitude
- -106.50079703071
- Latitude
- 35.090459267193
