308 Geraldine Road SE
Rio Rancho, NM 87124
MLS #906092

  • 4units
Est. P&I payment: $1122.88/mo
308 Geraldine Road SE, Rio Rancho, NM 87124
  • 308 Geraldine Road SE, Rio Rancho, NM 87124 Photo 1
  • 308 Geraldine Road SE, Rio Rancho, NM 87124 Photo 2
  • 308 Geraldine Road SE, Rio Rancho, NM 87124 Photo 3
Description for 308 Geraldine Road SE, Rio Rancho, NM 87124
Amazingly large townhouse style apartment units.Note, adjoining property, 304 is also for sale by same owner.Well located near Wal-Mart, new movie theaters, Presbyterian Hospital, restaurants and many of Rio Rancho's employment base.Measure of investment performance based on actual current rents of $675 include GRM of 9.07, Cap rate of 6.30%, and after tax IRR of 12.3%. If average rents are bumped to market of $793, the benchmarks are: 7.72 GRM, 7.80% CAP rate, 12.7% cash on cash.Tour postponed until after holidays. Email LA for details.
MLS #906092
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My Notes for MLS #906092

General Features

  • Property Type: C
  • Units for Sale: 4
  • Approx Structured SqFt: 3,584
  • Year Built: 1981
  • Total Number of Stories: 1
  • Total Number of Buildings: 1
  • Stories: 1
  • Property Sub-Type: Four Plex
  • 5+ Units: No
  • Age: 31 - 40
  • Number of Units: 4
  • Lot SqFt: 12,197
  • Zoning: R-2

Exterior Features

  • Number of Parking Spaces: 6
  • Exterior Material: Stucco

Interior Features

  • Basement: Basement: No
  • Unit Type 1: Number of Units: 4
  • Unit Type 1: Number of Bedrooms: 2
  • Unit Type 1: Number Baths: 1
  • Unit Type 1: Average SqFt: 1,050
  • Unit Summary: Total Units: 4
  • Unit Summary: Average Unit Size: 1,050
  • Unit Summary: Average Actual Rent: 725
  • Unit Summary: Annualized: 34,800
  • Flooring: Carpet

Utility Features

  • Amenities: Wshr/Dryr HU in Unit
  • Appliances included: Refrigerator
  • Cooling: Evaporative
  • Heating: Gas
  • Utilities: All City

Financial Features

  • Approximate Taxes: 3,245
  • List Price/SqFt: 82
  • Foreclosure: No
  • Unit Type 1: Average Actual Rent: 725
  • Unit Type 1: Max Rent: 775
  • Unit Type 1: Market Rent: 793
  • Unit Summary: Total Actual Rent: 2,900
  • Finance Considered: Cash,​FHA,​VA
  • Owner Pays: Other - See Remarks
  • Tenant Pays: Other - See Remarks

Community Features

  • Subdivision: Star Heights 2

Miscellaneous Features

  • Disability Access: Unknown
  • Lead Base Paint: No
  • Construction: Frame


Street View Not Available
Directions to 308 Geraldine Road SE, Rio Rancho, NM 87124
From Highway 528 and Southern, east to Unser, north to west on 5th north on 18th to Geraldine Road (not loop), west to property.
The listing information for 308 Geraldine Road SE, Rio Rancho, NM 87124 was graciously provided by our friends at the listing brokerage, NM Apartment Advisors, Inc.

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P&I Payment $1122.88
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on Southwest Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. Southwest Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 01/18/2018 at 6:54am
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