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
Listing courtesy of NM Apartment Advisors, Inc..
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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.