501 Texas Street NE, Albuquerque, NM 87108 (MLS# 979853)

Fantastic price on this 10 plex. $200,000 plus renovation is complete and the rents have been raised to provide an investment opportunity that provides a 7.7% cap rate without the cash demand of updating. All of the units have been remodeled, which includes laminate and tile floors. Appliances are new, bathrooms are updated along with lighting, paint, doors, window coverings. Other updates include new evaporative coolers, many new hot water heaters, laundry room with coin-operated dryers and washers and surveillance, fire escapes for 2nd story units, recent roof, resurfaced parking lot and wrought iron security fence and gate. There is also plenty of room in the back of lot to add storage units for additional income. Most tenants are long-term. Hard to find a multi-plex like this one.