4Plex-Great Location-Turn Key!
622 Jefferson St NE, Albuquerque, NM 87110
- $760K
- 3,116 SF building
- 0 ac
A rare opportunity in the heart of Albuquerque's Near Heights desirable very solid neighborhoods, a fully renovated fourplex that’s nothing short of spectacular.At its core is the main home in every sense: three bedrooms, two baths and more than 1,200 square feet of beautifully finished space, opening to a courtyard shaded by a mature tree, wrapped in warm cedar fencing for those Duke City evenings. Three additional units join it on the property, each renovated top to bottom. Nothing here was left half-finished, no deferred maintenance, no projects waiting, nothing to do, truly a turn the key setup.Two of the units are fully furnished and have been operated successfully as short-term rentals, giving this property a flexibility others do not have. Either continue that concept of STR, MTR (mid-term), traveling nurse market is abundant, especially with University of NM Hospital just down the street. Or simply convert the entire property into traditional long-term leases. Here’s an idea, live in the main home and let the other three units help carry the mortgage, or lease all four and let it work entirely on its own. Either way you are minutes from Nob Hill's restaurants and shops, Uptown's retail and offices, and immediate access to I-40, an established tree-lined pocket of the city that puts the whole metro within a short drive and keeps the hospitals, the university and the national labs close at hand.Also fantastic for that 1031 Exchange need, a turn-key Income-producing property and genuinely move-in ready. A true home, real income and a location like this rarely arrive in one package. 622 Jefferson St NE — Investment HighlightsTurnkey Investment - 1031 Option — move-in condition, no deferred maintenance, income from day one.$62,247 collected in the trailing twelve — documented on the seller's P&L, with for both STR (AirBnB) and leases in place at $3,050/month.$75,000 at long-term market rent — 10.13 GRM and a 6.35% cap, reached by leasing the two furnished units.Short-term, Mid-term or Long-term — two units furnished with STR booking history; UNM Hospital minutes away.Four units finance like a house — 30-year fixed, owner-occupied terms available. At five it's a commercial loan.$243.90/sf, $190,000 a door — within 7% of the highest price per unit this market has produced.Center of the city — Nob Hill, Uptown and I-40 minutes away; Kirtland, Sandia, three hospitals and UNM carry the rent roll.
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