UNM Area Apartment
2104 Lead Avenue SE Albuquerque, NM 87106
2104 Lead Avenue SE, Albuquerque, NM, 87106
$619,887
For Sale
$619,887
MULTI_FAMILY - Albuquerque, NM
Property Size2,670 SF
Lot Size0.16 Acres
Price / SF$232.17
Days on Market54
Property Features for 2104 Lead Avenue SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 1
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 2, Bathroom 1
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 101505747717341720
- Size
- 2,670 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- Lot 2 Block 4 Buena Vista Heights Addn
- Tax Annual Amount
- 1941
Utilities
- Cooling system
- Ductless
Building Details
- Year built
- 1936
- Floors in Building
- 3
- Number of units
- 8
- Flooring type
- Vinyl, Carpet
- Building materials
- Frame, Stucco
Listing Agency
NM Apartment Advisors, Inc.
(505) 440-8633
524 Central Ave. SW Suite 801, Albuquerque, NM
Listed by
Todd D Clarke · License #13711
(505) 440-8633
Added: May 29 Updated: Jul 7 at 4:41 pm Checked: Jul 21 at 5:06 am
MLS# 1104393
Listing URL
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 eight-unit apartment complex is located in the UNM area, offering convenient access to CNM, UNM, Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park. The property features fluid access from Lead Avenue and a well-maintained alley to the south. Ample parking is available next to unit entries. The complex includes six studios in a three-story building and two one-bedroom apartments in a single-story duplex. The buildings have been updated for energy efficiency and resident comfort. The property size is 2670 square feet on a lot of 0.16 acres.
Key Highlights
- 6 studio units in a 3‑story building plus 2 1‑bedroom apartments in a single‑story duplex
- Average rent listed at $750; asking price $619,887 with GRM of 8.61 and cap rate of 6.54%
- After‑tax IRR listed at 17.1% (based on ask price and average rent in the provided remarks)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.3k | $16.20 |
| − Vacancy | −$2.2k | −$0.84 |
| EGI | $41.0k | $15.36 |
| − OpEx | −$18.5k | −$6.91 |
| NOI | $22.6k | $8.45 |
2,670 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,553 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.9K
$565.2K – $753.6K
NOI $45,215 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit apartment complex near UNM, CNM, and Presbyterian Hospital.
Where is this apartment building located?
The property is located at 2104 Lead Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $619,887.
What are key features of this property?
This property features: 6 studio units in a 3‑story building plus 2 1‑bedroom apartments in a single‑story duplex; Average rent listed at $750; asking price $619,887 with GRM of 8.61 and cap rate of 6.54%; After‑tax IRR listed at 17.1% (based on ask price and average rent in the provided remarks)
