Homes by Carolyn Fischman

403 SAN FELIPE Street NW, Albuquerque, NM 87104 (MLS# 1028416)

403 SAN FELIPE Street NW, Albuquerque, NM 87104

$750,000
Property Type: Commercial Sale Square Footage: 2,227 Lot Size (sq. ft.): 10,515 Status: Closed
Current Price: $750,000 List Date: 1/20/2023 Last Modified: 12/08/2025

Overview

Description

This investment opportunity, located in Historic Old Town, is a three-unit mixed-use income property with a target IRR of 20.49% and capitalization rate of 5.71% at full optimization. The current owner has made significant repairs, including installing a new roof, fixing the plumbing, sewer, and electrical systems, adding a concrete slab foundation in one unit, repairing framing, sheetrock, and flooring, and installing new air conditioning systems. The property also offers off-street parking for up to 9 vehicles and a detached garage that can be used for parking or commercial purposes. The primary building is a charming adobe home with two bedrooms and two living areas that can also be used as retail or office space. Also included is a duplex building with a studio and 1 bedroom apartment.

Supplements: Historic Old Town is a neighborhood in Albuquerque, New Mexico that is known for its well-preserved 19th century architecture and rich cultural history. The area was originally settled in 1706 by Spanish colonists, and it served as the city's original town center. Today, Old Town is a popular tourist destination, attracting visitors with its colorf ...

Listing Details MLS# 1028416

Status Change Info

Pending Date
2023-03-30
Closing Date
2023-07-21

Contract Information

List Price/SqFt
336.78

Location

Street #
403
Street Name
SAN FELIPE
St Suffix
Street
Post Direction
NW
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87104
Zip +4
1428
Directions
From I-40 and Rio Grande Blvd NW: South on Rio Grande to S Plaza St NW. Left on S Plaza to San Felipe St NW. Left on San Felipe to property on left.
MLS Area Major
80 - Downtown Area
Zone Atlas
J13
Downtown
Yes
Freestanding
Yes
Shopping Center
Yes

General Property Description

Property Sub-Type
Mixed Use
Living Area
2227
SqFt Source
Floorplan
Acres
0.24
Lot SqFt
10515
Apx Lot Dim Front
114.64
Apx Lot Dim Side
85.56
Lot Size Source
Survey
Flood Zone
X
Total # Stories
Yes
Ceiling Height Range
No
# Parking Spaces
9
Docks
No
Disability Access
Unknown
HVAC
Yes
% Occupied
100
Transaction Type
Sale
# of Docks
0
Door Height
No

Income Expenses

Annual Gross Income
30635

Miscellaneous

Land Ownership
Land Owned

More Information

Sales Info

Seller Assist Ofrd
No
Trade/Xch Considered
No

Tax & Legal Info

UPC Code
101305815037721609
Short Legal Desc
MAP 38 TR 218A
GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
8410.48

Construction Materials

Adobe
Yes
Frame
Yes
Stucco
Yes

Cooling

Ductless
Yes
Evaporative Cooling
Yes
Refrigerated
Yes

Heating

Ductless
Yes
Floor Furnace
Yes
Wall Unit
Yes

Tenant Pays

None
Yes

Income & Expenses

Annual Oper Expenses
21209
Lease Term/Months
Month to Month

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Road Surface Type

Paved
Yes

Lease Information

None
Yes

Parking

On Site
Yes

Docs/Data Available

Plat Map
Yes
Survey
Yes

Finance Considered

Cash
Yes
Conventional
Yes
FHA
Yes
VA
Yes

Zoning

MX-T*
Yes

Property Features

Location: Downtown; Freestanding; Shopping Center; Downtown; Freestanding; Shopping Center Construction Materials: Adobe; Frame; Stucco Road Surface Type: Paved Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Ductless; Floor Furnace; Wall Unit Cooling: Ductless; Evaporative Cooling; Refrigerated Tenant Pays: None Lease Information: None Parking: On Site Finance Considered: Cash; Conventional; FHA; VA Zoning: MX-T*
Listing Office: Keller Williams Realty
Last Updated: December - 08 - 2025
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.

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