1027 Truman St SE

Ridgecrest 10 Unit Gem
On behalf of the owner, NM Apartment Advisors and Deacon Property Services are thrilled to bring to market this mid-century modern gem of a 10 unit apartment complex. Excellent Ridgecrest location: pride of ownership block right off Ridgecrest Ave. and Kathryn Ave. Close to UNM, CNM, Kirtland Air Force Base, the Sunport, and Nob Hill.
This property is positioned to reap the benefits of Albuquerque's largest and most concentrated revitalization and infill development effort along the south San Mateo and Gibson corridors. It's also just blocks to the brand new Albuquerque Community Safety Headquarters and the Max Q mixed use Development project.

Simple runway to value-add equity gain and exceptional cash flow. Nearly all essential value-add work is complete at the property, yet rents are 25% to 30% under market (as is). All units feature excellent / pragmatic floor plans complimented by well-preserved mid-century modern finishes (hardwood floors, built-ins, cool tile work, great closet space) with washer dryers, private yard / patio spaces and other smart updates. Separately metered for gas and electric with further value add ready through implementing a simple RUBS billback system for water/sewer/garbage. Meanwhile, the project-minded investor will find even greater value-add in further upgrading these awesome apartments.

Opportunities like this – in this size and price range - only come around once every couple of years. Don't spend the next 2 years looking in the rear view mirror, wishing you'd bought this gem.