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.
Sold
Price Unknown
403 San Felipe St NW, Albuquerque, NM 87104
3beds
4baths
2,227sqft
Multi Family, Single Family Residence
Built in 1946
-- sqft lot
$-- Zestimate®
$--/sqft
$2,384 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,384/mo
Zestimate® history
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List your homeWhat's special
Historic old townOff-street parkingDetached garageNew roofThree-unit mixed-use income propertyNew air conditioning systems
Zillow last checked:
Listing updated:
Listed by:
Christopher John Newman 505-485-2110,
Keller Williams Realty,
Marcos Espinoza 505-550-7877,
The M Real Estate Group
Bought with:
Patricia Bartolotta, 33994
Re/Max Alliance, REALTORS
Edwin D Quintana, 46201
Re/Max Alliance, REALTORS
Source: SWMLS,MLS#: 1028365
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
Heating
- Ductless, Floor Furnace, Wall Furnace
Cooling
- Ductless, Evaporative Cooling, Refrigerated
Appliances
- Included: Free-Standing Gas Range, Refrigerator
- Laundry: Washer Hookup, Dryer Hookup, ElectricDryer Hookup
Features
- Flooring: Tile, Vinyl, Wood
- Has basement: No
Interior area
- Total structure area: 2,227
- Total interior livable area: 2,227 sqft
Property
Parking
- Total spaces: 9
Features
- Levels: One
- Stories: 1
Lot
- Size: 10,454 sqft
Details
- Parcel number: 101305815037721609
- Zoning description: MX-T*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Single Family Residence
Materials
- Adobe, Frame, Stucco
Condition
- Resale
- New construction: No
- Year built: 1946
Utilities & green energy
- Electric: None
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Community & neighborhood
Location
- Region: Albuquerque
Other
Other facts
- Listing terms: Cash,Conventional,FHA,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 7/21/2023 | Sold | -- |
Source:  SWMLS #1028365 Report a problem | ||
| 3/30/2023 | Pending sale | $750,000$337/sqft |
Source: SWMLS #1028365 Report a problem | ||
| 3/6/2023 | Price change | $750,000-5.1%$337/sqft |
Source: SWMLS #1028365 Report a problem | ||
| 3/5/2023 | Pending sale | $790,000$355/sqft |
Source: SWMLS #1028365 Report a problem | ||
| 1/20/2023 | Listed for sale | $790,000$355/sqft |
Source: SWMLS #1028365 Report a problem | ||
| 6/13/2022 | Listing removed | -- |
Source: SWMLS #1008629 Report a problem | ||
| 5/23/2022 | Price change | $790,000-6.9%$355/sqft |
Source: SWMLS #1008629 Report a problem | ||
| 4/27/2022 | Price change | $849,000-3%$381/sqft |
Source: SWMLS #1008629 Report a problem | ||
| 1/5/2022 | Listed for sale | $875,000+45.9%$393/sqft |
Source: SWMLS #1006656 Report a problem | ||
| 12/1/2020 | Sold | -- |
Source: SWMLS #976382 Report a problem | ||
| 10/27/2020 | Pending sale | $599,900$269/sqft |
Source: Coldwell Banker Legacy #976382 Report a problem | ||
| 9/4/2020 | Price change | $599,900-1.7%$269/sqft |
Source: Coldwell Banker Legacy #976382 Report a problem | ||
| 5/9/2020 | Price change | $610,000-3.2%$274/sqft |
Source: Coldwell Banker Legacy #952510 Report a problem | ||
| 5/2/2020 | Price change | $630,000-16%$283/sqft |
Source: Coldwell Banker Legacy #952510 Report a problem | ||
| 11/28/2019 | Pending sale | $750,000$337/sqft |
Source: Coldwell Banker Legacy #952510 Report a problem | ||
| 8/24/2019 | Listed for sale | $750,000+15.4%$337/sqft |
Source: Coldwell Banker Legacy #952510 Report a problem | ||
| 10/16/2017 | Listing removed | $650,000$292/sqft |
Source: Coldwell Banker Legacy #879967 Report a problem | ||
| 3/14/2017 | Price change | $650,000-17.7%$292/sqft |
Source: Coldwell Banker Legacy #879967 Report a problem | ||
| 11/26/2016 | Listed for sale | $790,000$355/sqft |
Source: Coldwell Banker Legacy #879967 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,854 +3.1% | $203,920 +3% |
| 2024 | $9,555 +260.8% | $197,981 +264.9% |
| 2023 | $2,648 -80.3% | $54,262 -69.3% |
| 2022 | $13,472 +60.8% | $176,683 |
| 2021 | $8,376 +338.4% | $176,683 +343.6% |
| 2020 | $1,910 | $39,830 -3.8% |
| 2019 | -- | $41,396 |
| 2018 | $1,947 -1.3% | $41,396 |
| 2017 | $1,973 +1.1% | $41,396 |
| 2016 | $1,952 -95.3% | $41,396 |
| 2015 | $41,396 +2044.4% | $41,396 |
| 2014 | $1,930 | $41,396 |
| 2013 | $1,930 | $41,396 |
| 2012 | -- | $41,396 |
| 2011 | -- | $41,396 |
| 2010 | -- | $41,396 +1.5% |
| 2009 | -- | $40,769 +3% |
| 2008 | -- | $39,583 +3% |
| 2007 | -- | $38,430 +0.6% |
| 2006 | -- | $38,196 +2.9% |
| 2005 | -- | $37,130 |
| 2004 | -- | $37,130 |
| 2003 | -- | $37,130 |
| 2002 | -- | $37,130 |
| 2001 | -- | $37,130 +0.8% |
| 2000 | -- | $36,830 |
Find assessor info on the county website
Neighborhood: 87104
Nearby schools
GreatSchools rating
- 6/10Reginald Chavez Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 4/10Washington Middle SchoolGrades: 6-8Distance: 0.9 mi
- 3/10Albuquerque High SchoolGrades: 9-12Distance: 1.9 mi
- New Mexico
- Bernalillo County
- Albuquerque
- 87104
- 403 San Felipe St NW
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Albuquerque Topics
