1320 DR MARTIN LUTHER KING JR Avenue NE, Albuquerque, NM 87106

$1,200,000

Virtual Tour

https://my.matterport.com/show/?m=5txdbiEhpXv

Property Type: Residential Income Lot Size (sq. ft.): 9,583 Status: Closed

Current Price: $1,200,000 List Date: 2/16/2023 Last Modified: 11/03/2025

Overview

Description

This property contains twelve studios plus five garages. The property is 100% occupied and the garages are all rented out. The property is located very near UNM and close to Presbyterian & Lovelace Hospitals. Some of the units have been updated and remodeled to suit the modern tenant. Great investment for short term rentals.

Listing Details MLS# 1029716

Status Change Info

Pending Date: 2023-06-28
Closing Date: 2023-09-18

Location

Street #: 1320
Street Name: DR MARTIN LUTHER KING JR
St Suffix: Avenue
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 4640
MLS Area Major: 40 - UNM
Zone Atlas: K15

General Property Description

# of Units: 12
5+ Units: Yes
Property Sub-Type: Multi-Family
Lot Size Source: On-Line
Acres: 0.22
Lot SqFt: 9583.2
Directions: From University & Dr. Martin Luther King Jr. drive West On Dr. Martin Luther King Jr. to Sycamore. Property is on the corner of Dr. Martin Luther King Jr. & Sycamore.
Stories: 2
Total # of Buildings: Yes
Year Built: 1978
Age: 51 - 60
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 1050
Max Rent: 1050
Market Rent: 700

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 1050
Max Rent: 1050
Market Rent: 700

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 600
Max Rent: 1050
Market Rent: 700

# of Unit Types (4)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 545
Max Rent: 1050
Market Rent: 700

# of Unit Types (5)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 525
Max Rent: 1050
Market Rent: 700

# of Unit Types (6)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 600
Max Rent: 1050
Market Rent: 700

# of Unit Types (7)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 550
Max Rent: 1050
Market Rent: 700

# of Unit Types (8)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 600
Max Rent: 1050
Market Rent: 700

# of Unit Types (9)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 1050
Max Rent: 1050
Market Rent: 700

# of Unit Types (10)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 600
Max Rent: 1050
Market Rent: 700

# of Unit Types (11)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 600
Max Rent: 1050
Market Rent: 700

# of Unit Types (12)

# of Units: Yes
# of Bedrooms: Yes
# Baths: Yes
Style: Studio
Approx. SqFt: 364
Actual Rent: 500
Max Rent: 1050
Market Rent: 700

Unit Summary

Total Units: 12
Average Unit Size: 364
Average Actual Rent: 689.16
Annualized: 99240
Total Actual Rent: 8270

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101505725441022907

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 1893.76

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Storage: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Laminate: Yes

Heating

Wall Unit: Yes

Owner Pays

Sewer: Yes
Some Utilities: Yes
Water: Yes

Tenant Pays

Electric: Yes
Garage Rent: Yes
Gas: Yes

Build Description

Resale: Yes

Appliances included

Free-Standing Electric Range: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Parking

1 Space Per Unit: Yes

Roof

Tar Gravel: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Current Lse Agreemnt: Yes

Zoning

R-T*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Storage Appliances included: Free-Standing Electric Range Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Laminate Electric Provider: Public Utility Electric: None Owner Pays: Sewer; Some Utilities; Water Tenant Pays: Electric; Garage Rent; Gas Parking: 1 Space Per Unit Roof: Tar Gravel Rental Info: Current Lse Agreemnt Finance Considered: Cash; Conventional Zoning: R-T*

Documents

Floorplan ›

Lead Based Paint ›

APOD ›

Listing Office: Realty One of New Mexico, LLC

Last Updated: November - 03 - 2025

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