Two permitted houses on one lot. One loan, one tax bill, two rent checks. That is the pitch. The back house runs 1,391 square feet with 3 bedrooms and 2 baths. The second is 1,258 square feet, 3 bed and 1.5 bath, for roughly 2,649 square feet of rentable space. Both were built in 1940 and both are on record as legal dwellings, so the second unit is not a zoning argument waiting to happen at appraisal. Price reflects it an opportunity waiting for that savvy investor. What you are buying is a corrected rent roll, not a turnkey product. One side carries a tenant, so the numbers start working while the other side gets its rehab. North Valley, 87107, close to Fourth Street and a quick shot to I-40 and Old Town. Bring a contractor, run your own numbers, and schedule a showing.
The purpose of the R-1 zone district is to provide for neighborhoods of single-family homes with a variety of lot sizes and dimensions. When applied in developed areas, an additional purpose is to require that redevelopment reinforce the established character of the existing neighborhood. Primary land uses include single-family detached homes on individual lots, with limited civic and institutional uses to serve the surrounding residential area. Allowable uses are shown in Table 4-2-1.
Permitted uses
Include but are not limited to:
Agriculture
Equestrian facility
Greenhouse / nursery
Religious facility
Housing-Group
Housing-Single unit
Infrastructure
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 97° expected this year, 19 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 • 87107
Average low and high temperatures (°F)
51
24
65
32
73
39
76
44
83
52
96
64
97
68
94
67
86
59
77
50
61
34
57
30
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
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