500 N 3rd Street

Description

''Bloomfield Bonanza'' Take advantage of this rare opportunity to acquire a well-performing 16-unit multifamily complex, ideally situated in the heart of Bloomfield, NM. Spanning over half an acre, this property includes four separate 4-plex buildings"three of which feature 1-bedroom, 1-bathroom units, and one offering 2-bedroom, 1-bathroom units. Vacancy rates are consistently low, with units leasing quickly due to strong demand and a central location. All units feature updated windows for improved energy efficiency and aesthetic appeal. Fourteen of the sixteen units have been upgraded with modern tile flooring, and many have newer water heaters"approximately half of which are electric. Each unit is equipped with wall heating and window-mounted A/C units, and tenants are responsible for their own electricity expenses. The complex offers a minimum of two dedicated parking spaces per unit, a low-maintenance lot with mature shade trees, and a no-pet policy that has helped preserve unit condition. While some exterior paint and roofing work may be needed, the sellers are open to offering a price reduction or repair credit to accommodate these improvements. Whether you're expanding your portfolio or seeking a reliable income-producing asset, this centrally located complex offers long-term upside with minimal ongoing management demands. OWNER CARRY AVAILABLE!