Originally built by Abencio Salazar in1915, this 3 unit apartment includes a 3 car garage, gated compound art studio spaces, storage buildings, gazebo, fountain and a pond. The current owner's father purchased and renovated the property in the 1970's converting it from the town dance hall into an adobe artistic masterpiece! The property is a hundred feet from the Town of Bernalillo Rail Runner stop and a couple hundred feet from the Range café. Offered with an ask price of $285,000 or $95,000 per unit, or $90 per sf (heated area), the property's average rent of $842 offers an investor a 7.8% Cap rate, 13.7% Cash on cash and a 16.2% before tax internal rate of return. Adjacent parcel of land is also avail. Owner will need to keep some family made light fixtures - see seller disc
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