Property Description

This well-maintained, charming courtyard-style triplex offers a unique combination of residential character, walkability and investment upside. Mature landscaping, brick walkways and an inviting shared colonnade courtyard give the property a warm residential feel, while off-street parking and private patio space add convenience and privacy.Solatube tubular skylights bring abundant natural light into the residences, creating bright and welcoming interiors. The property also offers dedicated buried tool and storage areas, providing additional secure storage for owner use.The owner has made a number of recent improvements, including a new roof in 2022, new driveways and sidewalks in 2024, and interior renovations.Apartment 533 #6 has been fully renovated and includes a dedicated laundry room with a built-in clothing rack. Additional units offer varying laundry amenities, including washer and washer/dryer hookups.From an investment perspective, there is meaningful room for continued income growth. Current rents average approximately $825, compared with projected market rents of approximately $975, providing an opportunity to increase revenue as rents move toward market.With a start price of $331,592, the property currently offers an 11.16 GRM and 6.11% cap rate, with additional upside as rents are brought closer to market.The owner also owns the adjoining property at 537 Valencia SE, creating an opportunity for a buyer interested in expanding their investment beyond this triplex.Residents are within walking distance of parks, restaurants and retail while enjoying the character and privacy of an established neighborhood.This is the type of property that feels more like housing than apartments--a quality many residents value and one that helps distinguish it from more traditional multifamily properties.Don't miss this opportunity to acquire a distinctive Albuquerque triplex with existing income, recent capital improvements and a clear path for future rent growth.

Property Features