3409 Tulane Drive Ne, Albuquerque, 87107



Todd D Clarke
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On behalf of the owner, NM Apartment Advisors Inc., and PS Properties are pleased to present this opportunity to acquire ten architecturally unique two-bedroom units in the centrally located Alta Monte neighborhood. The building was designed by the legendary Albuquerque-based architect Bart Prince, one of the foremost international practitioners of organic architecture. Gated and fenced, the building offers secure resident parking. A central courtyard provides a gathering place. Recent improvements during the last two years include seven new gas furnaces, a partial roof replacement, re-stuccoing, exterior paint and a laundry room upgrade. Measures of investment performance at ask price of $825,000 and current average rents of $739 are a GRM of 9.31, a 6.97% cap rate, IRR =18.60%

Essential Information

MLS® #: 951252
Price: $825,000
Acres: 0.36
Year Built: 1979
Type: Residential Income
Sub-Type: 9 or More Units
Status: Pending

Community Information

Address: 3409 Tulane Drive Ne
Area: 41 - Uptown
Subdivision: Indian Acres Sub
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87107


Amenities: Owners Unit
Utilities: Cable Connected, Natural Gas Connected, Water Connected, Phone Connected, Sewer Connected


Appliances: Refrigerator
Heating: Other - See Remarks
Cooling: Other - See Remarks
# of Stories: 2
Stories: 2 Story


Construction: Brick, Frame

Additional Information

Date Listed: August 7th, 2019
Days on Market: 145
Zoning: R-ML*

Listing Details

Listing Agent: Todd Clarke
Listing Office: NM Apartment Advisors, Inc.
Office Phone: (505) 440-8633

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Listing information last updated on January 28th, 2020 at 3:42am MST.