304 Geraldine Road SE Rio Rancho, NM
$ 320,000
Property Attributes
  • MLS#906091
  • TypeMulti-Family
  • CountySANDOVAL
  • CityRio Rancho
  • AreaRio Rancho MiD
  • NeighborhoodStar Heights 2
  • Zip87124
  • StyleFour Plex
  • Year Built1980
  • Taxes3595
  • Price$ 320,000
  • Bedrooms0
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage4198
  • Lot Size12,197 SqFt
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Property Description

Amazingly large apartments with incredible design - extra outdoor bonus room - see floorplans and virtual tour for more info.Note, adjoining property, 308 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 $725 include GRM of 9.20, Cap rate of 6.0%, and after tax IRR of 12.3%. If average rents are bumped to market of $793, the benchmarks are: 8.41 GRM, 6.70% CAP rate, 9.6% cash on cash.Tour postponed until after holidays. Email LA for details.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
11/15/2017 Listed $320,000

General Features

# of Units 4.00
Amenities Wshr/Dryr HU in Unit
Builder Unknown
Construction Frame
Finance Considered Cash, FHA, VA
Rental Info Call Listing Broker
Stories 1.0
Subdivision Star Heights 2
Tenant Pays Other - See Remarks
Utilities All City
Zoning R-2

Interior Features

5+ Units No
Appliances Included Refrigerator
Basement No
Cooling Evaporative
Flooring Carpet
Heating Gas

Exterior Features

Disability Access Unknown
Exterior Material Stucco
Number of Parking Spaces 6.00


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 87124

AVG $340K
AVG $4,173
AVG 14
Year Built
AVG 1993
AVG 33

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