Updated Four-Unit Apartment
For Sale
$522,720
1315 Madeira Drive SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size3,233 SF
Lot Size0.20 Acres
Price / SF$161.68
Days on Market40
Property Features for 1315 Madeira Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
MX-M*
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1
Parking
6
Appliances
Refrigerator
Subdivision
Summary Plat Tract B Virginia Place Add
Directions
From Gibson and I-25 east to Madeira and north to property.
Standard status
Active
APN
101805605504330208
Size
3,233 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
B-4 26 Summary Plat Tract B Virginia Place Addn
Tax Annual Amount
3387
Legal Description
B-4 26 Summary Plat Tract B Virginia Place Addn
Utilities
Heating system
Forced Air
Amenities
courtyard
in-unit washer/dryer
Building Details
Year built
1980
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Block, Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Jul 28
Changed: Sep 1
Last Checked: Sep 5 at 4:06PM
MLS# 1108087
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 four-unit apartment property contains 3,233 square feet on a 0.2-acre site and was constructed in 1980. Each residence offers a two-bedroom, one-bath layout with vinyl flooring, updated fixtures, a full-size washer and dryer in a separate utility closet, and an updated kitchen equipped with appliances including a dishwasher. Block, frame, and stucco construction is complemented by forced-air heating.
The property includes large courtyard areas serving the residential units and is located in Albuquerque, within Bernalillo County. Its configuration provides four separately arranged residences within one multifamily asset, with practical in-unit features suited to long-term residential occupancy.
The property includes large courtyard areas serving the residential units and is located in Albuquerque, within Bernalillo County. Its configuration provides four separately arranged residences within one multifamily asset, with practical in-unit features suited to long-term residential occupancy.
Key Highlights
- Four‑unit multifamily property with 3,233 square feet of building area
- Each unit includes 2 bedrooms and 1 bathroom
- 0.2‑acre site in Albuquerque, NM 87108
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
$29,513
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
5.65%
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%
$590,260
$590.3K
Cap Rate 7%
$421,614
$421.6K
Cap Rate 9%
$327,922
$327.9K
Market Conditions
NOI Build-Up for 3,233 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
$44.6K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.2K $13.04/SF
− OpEx
−$12.6K −$3.91/SF
NOI
$29.5K $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%
$590,260
Cap Rate 7%
$421,614
Cap Rate 9%
$327,922
Alternative Uses
Best Use
Multifamily LT 5
$421.6K
$368.9K – $491.9K
NOI $29,513 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$390.1K
$341.4K – $455.1K
NOI $27,308 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$782.1K
$684.4K – $912.5K
NOI $54,749 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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 - Four residential units feature refreshed interiors, private laundry areas, full kitchens, and shared courtyard space.
Where is this quadplex located?
The property is located at 1315 Madeira Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $522,720.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,233 square feet of building area; Each unit includes 2 bedrooms and 1 bathroom; 0.2‑acre site in Albuquerque, NM 87108
