This four-unit apartment building offers a strong investment opportunity with a current 9.24% cap rate at full asking price. The property features four residential 1 bed, 1 bath units. Most tenants are supported by subsidized housing programs, providing stable and consistent rental income. Utilities are currently included in the rent with those tenants; however, the building is equipped with individual gas and electric meters, offering future ownership the option to separate utilities. Located in an established rental area surrounded by other multifamily properties. Ideal for investors seeking the potential of immediate cash flow. Do NOT disturb tenants. Walkthrough will not be permitted until Earnest Money is delivered to Title. Property is sold in AS IS Condition.
For sale
Price cut: $10K (7/20)
$350,000
123 General Arnold St NE, Albuquerque, NM 87123
4beds
4baths
3,060sqft
Multi Family
Built in 1956
-- sqft lot
$-- Zestimate®
$114/sqft
$-- HOA
What's special
- 178 days
- 103
- 3
Zillow last checked:
Listing updated:
Listed by:
Angelo Mora 505-903-2040,
Keyway Properties, Inc 505-903-2040
Source: SWMLS,MLS#: 1099819
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Forced Air
Cooling
- Evaporative Cooling
Appliances
- Included: Free-Standing Electric Range, Refrigerator
Features
- Flooring: See Remarks
Interior area
- Total structure area: 3,060
- Total interior livable area: 3,060 sqft
Property
Features
- Levels: One
- Stories: 1
Lot
- Size: 7,405 Square Feet
Details
- Parcel number: 102005708208030909
- Zoning description: MX-T*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Resale
- New construction: No
- Year built: 1956
Utilities & green energy
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Subdivision: Dennison Add
Location
- Region: Albuquerque
Financial & listing details
- Price per square foot: $114/sqft
- Tax assessed value: $153,728
- Annual tax amount: $2,164
- Date on market: 3/13/2026
- Cumulative days on market: 178 days
- Listing terms: Cash,Conventional,FHA
- Total actual rent: 3950
- Tenant pays: Other, See Remarks
Estimated market value
Not available
Estimated sales range
Not available
$1,877/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/20/2026 | Price change | $350,000-2.8%$114/sqft |
Source:  SWMLS #1099819 Report a problem | ||
| 3/13/2026 | Listed for sale | $360,000-10%$118/sqft |
Source: SWMLS #1099819 Report a problem | ||
| 10/22/2024 | Listing removed | $400,000$131/sqft |
Source: SWMLS #1064553 Report a problem | ||
| 6/6/2024 | Listed for sale | $400,000+220.3%$131/sqft |
Source: SWMLS #1064553 Report a problem | ||
| 1/25/2016 | Listing removed | $495 |
Source: Zillow Rental Manager Report a problem | ||
| 1/14/2016 | Listed for rent | $495 |
Source: Zillow Rental Manager Report a problem | ||
| 10/21/2015 | Listing removed | $124,900$41/sqft |
Source: RE/MAX MASTERS #844218 Report a problem | ||
| 8/26/2015 | Price change | $124,900-3.8%$41/sqft |
Source: RE/MAX MASTERS #844218 Report a problem | ||
| 6/30/2015 | Listed for sale | $129,900$42/sqft |
Source: Re/Max Masters #844218 Report a problem | ||
| 5/29/2001 | Sold | -- |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,165 +3.2% | $51,237 +3% |
| 2024 | $2,099 +1.7% | $49,746 +3% |
| 2023 | $2,064 +107% | $48,297 +3% |
| 2022 | $997 +3.5% | $46,891 +3% |
| 2021 | $964 -49.2% | $45,525 +3% |
| 2020 | $1,896 | $44,199 +3% |
| 2019 | -- | $42,912 |
| 2018 | $2,270 +24.2% | $42,912 |
| 2017 | $1,828 +3.1% | $42,912 +3% |
| 2016 | $1,773 -96.7% | $41,662 -21.7% |
| 2015 | $53,228 +2228.7% | $53,228 -1.1% |
| 2014 | $2,286 | $53,828 -3.5% |
| 2013 | $2,286 | $55,795 |
| 2012 | -- | $55,795 -15% |
| 2011 | -- | $65,626 |
| 2010 | -- | $65,626 +17.6% |
| 2009 | -- | $55,796 +3% |
| 2008 | -- | $54,171 +3% |
| 2007 | -- | $52,593 +3% |
| 2006 | -- | $51,062 +78.3% |
| 2005 | -- | $28,641 +3% |
| 2004 | -- | $27,807 +3% |
| 2003 | -- | $26,997 -10% |
| 2002 | -- | $29,997 -28.3% |
| 2001 | -- | $41,863 +56% |
| 2000 | -- | $26,831 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: South Los Altos
- $--1 bd1 ba650 sqft123 General Arnold St NE APT 4, Albuquerque, NM 87123Off Market
- $---- bd1 ba400 sqft121 General Arnold St NE APT B, Albuquerque, NM 87123Off Market
- $--2 bd1 ba850 sqft121 General Arnold St NE APT F, Albuquerque, NM 87123Off Market
- $--2 bd1 ba-- sqft121 General Arnold St NE APT A, Albuquerque, NM 87123Off Market
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