117 Richmond Drive SE Albuquerque, NM
$ 2,631,705
Property Attributes
  • MLS#983163
  • TypeMulti-Family
  • CityAlbuquerque
  • AreaUNM South
  • NeighborhoodUniversity Heights Add
  • Zip87106
  • StyleMulti Family
  • Price$ 2,631,705
  • Bedrooms1
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage8042
  • Lot Size5,793 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Data Source:
Southwest MLS (SWMLS) - 101 - NM
Property Description

117 Richmond SE, known as the Richmond Studios, belongs on the cover of any real estate coffee table picture book as the ideal example of modern design and millennial living with the mix of work and live spaces in one integrated community.Developed by Rembe Urban Design+Development, this 2006 built development, won the AIA Albuquerque 2007 Urban Design award.Building configuration is divided into 8 units ranging from 889 sf to 1,048 sf - two story, hardwood floors, clean, simple, modern lines. Rents range from $1,350 to $1.900 per suiteAt the ask price of $2,631,705 and an average rent of $1,531, the measure of investment performance include a GRM of 17.90, a CAP rate of 4.51%, a price per unit of $328,963, a price per square foot of $327.25, if rents were raised to market of $2

Price History
12/31/2020 Listed $2,631,705

General Features

Additional Parcels Y/N Yes
Appliances Refrigerator
Community Features Deck/Porch
Construction Materials Frame
Cooling Refrigerated
Electric None
Flooring Wood
Heating Central, Forced Air
Levels Two
Listing Agent State License 13711
MLS Area 42 - UNM South
Property SubType Multi Family
Property Type Residential Income
PropertyCondition Resale
Status Active
Stories 2
Subdivision Name University Heights Add
Terms Cash, Conventional
Total Units 8
Utilities Municipal Utilities
Virtual Tour
Zoning Description MX-M*

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes
Laundry Features Washer Hookup, Dryer Hookup, In Unit
Living Area 8042
Total Baths 1
Total Bedrooms 1

Exterior Features

Lot Size Acres 0.13
Lot Size Source Public Records
Lot Size Square Feet 5793
Number of Buildings 2


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 87106

AVG $890K
AVG 57
Year Built
AVG 1967
AVG 61
Data Provided by Walkscore ® not using MLS data

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