USANMAlbuquerque1601-1617 Gold Ave Se
48 - 1601-1617 Gold Ave Se, Home with 0 bedrooms, 0 bathrooms and 40 parking in Albuquerque NM | Image 1
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$3,250,000

48 - 1601-1617 Gold Ave Se, Albuquerque, NM

Real Estate

For Sale

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0040
  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $14,873
Days Active 1
Approx. Age 
MLS® Number 1087551

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Terrace Gardens Apartments is a 48-unit multifamily asset located just blocks from the University of New Mexico in Albuquerque's highly sought-after student housing corridor. Comprising 36 studios, 8 one-bedroom one bathroom, 2 two-bedrooms, one bathroom, and 1 three-bedroom one bathroom units, the property spans four contiguous lots totaling +/-35, 000 SF with 18, 511 SF of rentable area.With current average rents at $710.00/unit and 77% occupancy, this property presents significant upside. The UNM submarket boasts average studio rents of $860 and one-bedrooms at $1, 168, highlighting a clear opportunity for rental growth. A 2026 pro forma projects a stabilized cap rate of 7.71% and GRM of 8.27, with a net operating income of $262, 925.Show Description
MLS® Number1087551
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age
Stories3
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatFloor Furnace, Radiant Floor, Wall Furnace
A/CEvaporative Cooling
Heating Fuel

Extras

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