Updated Triplex With Private
For Sale
$479,995
1003 Carlisle Boulevard SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size2,156 SF
Lot Size0.18 Acres
Price / SF$222.63
Days on Market150
Property Features for 1003 Carlisle Boulevard SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-MH*
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Parking
10
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Patio
Appliances
Dryer, FreeStandingGasRange, Refrigerator, Washer
Directions
From Gibson and Carlisle: North On Carlisle to property. Property is on the SW Corner of Smith and Carlisle SE.
Subdivision
42 - UNM South
Standard status
Active
APN
101605651822841514
Size
2,156 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4625
Utilities
Cooling system
Ceiling Fan(s)
Amenities
in-unit washer/dryers
private yard spaces
updated fixtures and finishes
garages
carport spaces
bonus storage
Building Details
Year built
1947
Floors in Building
1
Number of units
3
Flooring type
Tile, Carpet, Wood
Building materials
Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 803-3775
Added: May 1
Changed: Sep 14
Last Checked: Sep 27 at 6:06PM
MLS# 1103320
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,156-square-foot triplex sits on a 0.18-acre lot and contains three modernized apartments. The 1947 property combines preserved vintage character with updated fixtures and finishes, while individual residences include washers and dryers, private yard areas, and patio space. Garages, carport parking, and bonus storage add practical utility. Interior details include tile, carpet, wood flooring, ceiling fans, refrigerators, and freestanding gas ranges.
The property is at 1003 Carlisle Boulevard SE in Albuquerque’s Knob Heights neighborhood, south of Ridgecrest. Castle Coffee, theSource Community Center, a community garden, and multiple neighborhood parks are within walking distance. UNM, CNM, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are a short drive away.
The property is at 1003 Carlisle Boulevard SE in Albuquerque’s Knob Heights neighborhood, south of Ridgecrest. Castle Coffee, theSource Community Center, a community garden, and multiple neighborhood parks are within walking distance. UNM, CNM, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are a short drive away.
Key Highlights
- Three‑apartment triplex with 2,156 square feet of property size
- 0.18‑acre lot in Albuquerque’s Knob Heights neighborhood
- Modernized apartments with in‑unit washers and dryers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,681
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,620
$393.6K
Cap Rate 7%
$281,157
$281.2K
Cap Rate 9%
$218,678
$218.7K
Market Conditions
NOI Build-Up for 2,156 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.8K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$28.1K $13.04/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$19.7K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,620
Cap Rate 7%
$281,157
Cap Rate 9%
$218,678
Alternative Uses
Best Use
Multifamily LT 5
$281.2K
$246.0K – $328.0K
NOI $19,681 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$260.2K
$227.6K – $303.5K
NOI $18,211 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$521.6K
$456.4K – $608.5K
NOI $36,511 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three modernized apartments offer in-unit laundry, individual yard areas, garages, and carport parking.
Where is this triplex located?
The property is located at 1003 Carlisle Boulevard SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $479,995.
What are key features of this property?
This property features: Three‑apartment triplex with 2,156 square feet of property size; 0.18‑acre lot in Albuquerque’s Knob Heights neighborhood; Modernized apartments with in‑unit washers and dryers
