129 Manzano St NE, Albuquerque, NM 87108

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Bruce G.

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Building Details:

• Year Built: 1982

129 Manzano St NE is amulti-family property for lease in Albuquerque, NM.

Unique, UNM Submarket investment property. Great 1031 Exchange property. 24-Unit apartment building comprised of 6 contiguous, separately platted properties with a 2-story, 4-unit apartment building on each. Exceptionally clean and well maintained units. All units are 2 bedroom, one bath, 21 of which have attached storage unit. 3 secure laundry rooms. Asking price is $1,825,000, 7.2% cap rate, 6.5% cash on cash return, 12.3% annual return. Current rents are 18% below market. Asking price is 17% below comparable sales.

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