Both units are tenant occupied. Property tours will be held for pre-qualified buyers only on August 22nd and August 29th from 1-3 pm. Located just minutes from Downtown Albuquerque and Old Town, the property is within walking distance of Rio Grande Pool, Rio Grande Park, the ABQ BioPark Zoo and nearby neighborhood amenities. It also offers convenient bicycle access to Downtown, Old Town Plaza and the extensive trail system along the Bosque and Rio Grande. Offered at $275,000, or $137,500 per unit, the property provides an attractive entry point into Albuquerque's multifamily investment market. Current underwriting reflects a 6.19% cap rate, with projected rent growth providing additional upside. The property features two one bedroom/one bathroom units. The extra lot contains 0.1618 acres with alley access and space for additionalbuilding(s). Do not wait, apartments continue to show strong appreciation coupledwith high rent growth potential from all of the new Amazon, Facebook, Intel, and Netflix jobs entering the market.
Multi-familyProperty Type
1920Year Built
7,057 sq ftLot Size
$244Price/Sq.Ft.
Listed by Anita Maestas• Maestas Real Estate Services
Listed by Todd Clarke• NM Apartment Advisors, Inc.
Barelas, located between Downtown Albuquerque and the Rio Grande, is a historic and industrial Albuquerque neighborhood with a rail-yard legacy and adobe-lined streets. The neighborhood’s character concentrates around 4th Street SW near Bridge Boulevard, where corner markets, low-slung storefronts, and murals set a working, lived-in rhythm. The National Hispanic Cultural Center anchors the cultural calendar with galleries, performances, and a broad plaza. The Rail Yards Market brings seasonal bustle to the storied Albuquerque Rail Yards, framed by big-sky views and warehouse bones. Housing leans toward modest bungalows and adobe homes, with pockets of light-industrial blocks and wide streets. Trails and open space along the bosque edge shape daily routines toward walking and cycling.
Provided by Walk Score and Local Logic
Offer insights
1303-1305 Iron Ave SW · $275,000
$275K and above
75% chance or better to win
Why $275K+ is a strong offer
DAYS ON MARKET
20 days
The average home goes pending in 10 days.
SALE-TO-LIST
99.1%
Most homes are selling 1% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Bedroom
Interior features
Vinyl flooring
Resale condition
Kitchen
Free-standing gas range
Refrigerator
Flooring
Vinyl
Heating & cooling
Wall furnace (heating)
Exterior features
Public-record lot information
Storage facilities (community)
Home design
Single-story
Stucco construction
Construction
Stucco exterior
Utilities
Cable connected
Electricity connected
Sewer connected
Water connected
HOA & community
Storage facilities available in the community
Financial info
Property is a 2-unit multi-family with 2 buildings
Total actual rent: $2,000
Gross income: $24,000
Operating expenses: $7,464
Other
Owner pays sewer, trash collection, and water
Electricity and solar
View estimated energy costs and solar savings for this home
Residential - Multi-family Low Density Zone District
The purpose of the R-ML zone district is to provide for a variety of low- to medium-density housing options. The primary land uses are townhouses and small-scale multi-family development, as well as civic and institutional uses to serve the surrounding residential area. Allowable uses are shown in Table 4-2-1.
Zone overlays
Character Protection Overlay Zones - Barelas - 1
Permitted uses
Include but are not limited to:
Community / recreation center
Religious facility
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Infrastructure
Educational/school
Library
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 96° expected this year, 18 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Albuquerque, NM • 87102
Average low and high temperatures (°F)
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68
87
59
78
50
61
35
58
31
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1303-1305 Iron Ave SW
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