On behalf of the Owner, Deacon Property Services and NM Apartment Advisors are excited to bring to market a unique, classic Ridgecrest 7-unit apartment complex with significant value add potential. All units are separately metered for gas and electric and have been partially updated over the years - some with more complete modern features and others more vintage. All units offer delightful spacious patio / front porch entries with a variety of quality features - like built-ins, hardwood floors, updated and open kitchens, spacious living areas, and great off-street parking options. The next owner can choose from an assortment of low-hanging value-add options for each unique apartment and the overall community to push rents to top market levels. Investors are encouraged to consider such a product with a collaboration with the Ventana Fund(see term sheet on page 5 of the flyer) for New Mexico's most competitive financing options for multi-family acquisitions and rehabilitation projects. This unique compound features two triplexes + a casita. Each triplex offers two spacious 1 bedroom apartments and one larger 2-bedroom apartment. The two bedrooms apartments each include a sizeable backyard and washer / Dryer in unit. The property also boasts an additional standalone / spacious 1 bedroom casita with a separate private yard. Located in an Excellent Ridgecrest location on a quiet block close to Nob Hill, Highland Pool, and great parks.
Multi-familyProperty Type
1958Year Built
0.32 acresLot Size
$182Price/Sq.Ft.
Listed by Kyle Deacon• Deacon Property Services
Listed by Todd Clarke• NM Apartment Advisors, Inc.
Parkland Hills, located between Nob Hill and the University of New Mexico, is a residential and historic Albuquerque neighborhood with curving streets and mid-century character. The neighborhood reads as a quiet pocket of ranch homes and low-slung modern lines, shaped by mature trees and the open edge of the UNM Golf Course. The neighborhood’s energy concentrates around the Central Ave & Girard Blvd corridor, where patios, neon signage, and late-night foot traffic set a distinctly Albuquerque rhythm. Community pillars nearby include the Guild Cinema, the Nob Hill storefronts of Bookworks, and the stage at Popejoy Hall. Side streets feel removed from the commercial strip, while still tied to the city’s café-and-culture circuit. Outdoor time often centers on the fairways and the nearby campus greens.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Ceiling fans
Bedrooms
Seven units total: mix of 2-bed and 1-bed units (unit breakdown below)
Bathrooms
Combination of 1-bath units
Kitchen
Free-standing electric range
Refrigerator
Flooring
Carpet
Tile
Vinyl
Heating & cooling
Wall furnace heating
Evaporative cooling
Ceiling fans for cooling
Exterior features
Landscaped grounds
Home design
Single-story buildings
Three buildings on the lot
Multi-family property (7 units)
Construction
Frame and stucco construction
Utilities
Electricity connected
Natural gas connected
Water connected
Sewer connected
Financial info
Total actual rent collected: $7,026 per month
Gross annual income: $83,676
Operating expenses: $29,938
Unit-type rents (examples): 2-bed/1-bath units rent $1,208; 1-bed/1-bath units rent $922
Other
Owner pays sewer, trash collection, and water; tenants pay electricity and gas
Electricity and solar
View estimated energy costs and solar savings for this home
Residential - MUlti-family High Density Zone District
The purpose of the R-MH zone district is to promote and encourage the development of high-density attached and multi-family housing, with taller, multi-story buildings encouraged in Centers and Corridors in areas close to major streets and public transit facilities. The primary land use is multi-family development, with limited civic and institutional uses to serve the surrounding residential area. Other allowable uses are shown in Table 4-2-1.
Permitted uses
Include but are not limited to:
Community / recreation center
Housing-Group
Housing-Multiple units
Housing-Senior
Housing-Student
Infrastructure
Bed & breakfast
Mixed use
Educational/school
Library
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
4/10 Heat Factor
5 days above 94° expected this year, 12 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, 3 days in 30 years
Provided by First Street
Historical weather
Albuquerque, NM • 87108
Average low and high temperatures (°F)
48
26
62
35
70
41
73
46
79
54
92
65
91
67
92
68
85
59
76
51
60
36
56
32
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 11.8 hours in
June and 7.1 hours in December, placing it above the
U.S. average for solar exposure.
11.8 hrs
7.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 4600 Zuni Rd SE
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