Multi-Family•Skilled Nursing•For Sale

1629 Bowe Lane

1629 Bowe Lane SW, Albuquerque, New Mexico 87105

Sale Price $4,000,000
Sale Type Net Lease Investment
Year Built 1962
Stories 1
Cap Rate 9.50%
Vacancy 100%
Gross Bldg 21,000 SqFt
Land Area 1.67 Acres
Project Size 58
Net Op Inc $381,138
Legal Descr Lots 13,14, 15, 16, 17, and 18, inclusive, of the Bowe Addition, located at the intersection of Goff Blvd. and Bowe Lane S.E. in Albuquerque, New Mexico, and all improvements thereon.
Solid investment opportunity of a NNN leased 58 bed Nursing Home, leased till June 30 2025 with a 6% rent increase every three years, with the next bump occurring July 1, 2018. Primarily Medicaid long term residents. Located in the SW quadrant of Albuquerque, New Mexico, this investment property is set in a city as rich in its history and culture as its scenic backdrop. Experience the virtually year-round sunshine, the awe-inspiring Sandia Mountains to the East, and the Rio Grande gracefully flowing through the city.
  • New HVAC System
  • New 60 kW Generator
  • New Silicone Coating on Roof with a 10 year warranty
  • New Fire Protection System
  • New Call Light System
  • New Sidewalk
  • Asphalt in Good Repair

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Sale Brochure

4/9/2019 4:01:57 PM 4/17/2019 5:04:14 AM

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