Updated 4-Plex Residential Income
For Sale
$524,495
1005 Carlisle Boulevard SE, Albuquerque, NM 87106
MULTI_FAMILY - Albuquerque, NM
Property Size2,640 SF
Lot Size0.10 Acres
Price / SF$198.67
Days on Market97
Property Features for 1005 Carlisle Boulevard SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-MH*
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking
8
Patio and Porch features
Patio
Exterior features
Patio
Appliances
Dryer, FreeStandingElectricRange, Washer
Directions
From Gibson and Carlisle: North to Property. 1005 Carlisle is just south of the SW corner of Smith and Carlisle. Property faces East.
Subdivision
42 - UNM South
Standard status
Active
APN
101605651922241513
Size
2,640 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4483
Amenities
in-unit washer/dryer
private yard spaces
Building Details
Year built
1962
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Frame, Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Added: May 8
Changed: Aug 3
Last Checked: Aug 12 at 7:06AM
MLS# 1103321
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 updated four-plex offers four 1 bed, 1 bath apartment homes within a vintage frame and stucco building. Each unit includes modern in-unit washer and dryer and features vinyl flooring, updated fixtures and finishes, and private outdoor yard/patio space. The property includes patio exterior features and appliances such as washers and dryers, plus free-standing electric ranges.
The building sits on a 0.1-acre lot and was built in 1962. A new roof was installed in 2025, supporting the property’s more recent updates.
Positioned for residential income, the four apartments share a consistent 1 bed/1 bath floor plan and are sized at just over 660 SF each. The combination of modernized interiors and renewed exterior improvements is intended to appeal to tenants seeking comfort and convenience.
The building sits on a 0.1-acre lot and was built in 1962. A new roof was installed in 2025, supporting the property’s more recent updates.
Positioned for residential income, the four apartments share a consistent 1 bed/1 bath floor plan and are sized at just over 660 SF each. The combination of modernized interiors and renewed exterior improvements is intended to appeal to tenants seeking comfort and convenience.
Key Highlights
- Four one‑bedroom, one‑bath apartments with in‑unit washer and dryer
- Each unit is just over 660 SF with modernized fixtures and finishes
- Updated patio and private outdoor yard space
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
$24,100
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
4.59%
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%
$482,000
$482.0K
Cap Rate 7%
$344,286
$344.3K
Cap Rate 9%
$267,778
$267.8K
Market Conditions
NOI Build-Up for 2,640 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
$36.4K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.4K $13.04/SF
− OpEx
−$10.3K −$3.91/SF
NOI
$24.1K $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%
$482,000
Cap Rate 7%
$344,286
Cap Rate 9%
$267,778
Alternative Uses
Best Use
Multifamily LT 5
$344.3K
$301.3K – $401.7K
NOI $24,100 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$318.6K
$278.7K – $371.7K
NOI $22,299 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$638.7K
$558.8K – $745.1K
NOI $44,707 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
281
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated 4-plex with four modernized one-bedroom units, in-unit washer and dryer, and a private patio setting.
Where is this quadplex located?
The property is located at 1005 Carlisle Boulevard SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $524,495.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartments with in‑unit washer and dryer; Each unit is just over 660 SF with modernized fixtures and finishes; Updated patio and private outdoor yard space
