Single-Story Courtyard
For Sale
$431,071
3403 Anderson Avenue SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size2,789 SF
Lot Size0.12 Acres
Price / SF$154.56
Days on Market45
Property Features for 3403 Anderson Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-MH*
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
8
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Landscaping, Patio
Appliances
Dishwasher, FreeStandingElectricRange, Refrigerator
Subdivision
Rangels Sub
Directions
From I-25 and Central, east to Carlisle, south to Anderson, west to property and 1220 Wellesley SE/3403 Anderson SE
Standard status
Active
APN
101605640121341401
Size
2,789 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
2653
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Building Details
Year built
1978
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Tile
Building materials
Frame, Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 803-3775
Added: Aug 14
Changed: Sep 17
Last Checked: Sep 27 at 2:06PM
MLS# 1110863
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 2,789-square-foot triplex at 3403 Anderson Avenue SE contains three single-story residences arranged in a courtyard-style configuration. Each unit offers two bedrooms and one bathroom, with living space, dining areas, kitchens, storage, and private backyard or patio areas. Interior and building features include tile and vinyl flooring, forced-air heating, ceiling fans, frame and stucco construction, dishwashers, electric ranges, and refrigerators. The property was built in 1978 and occupies 0.12 acres.
The property is approximately 100 feet from Puerta Del Sol golf course, with golf course views and adjoining open space identified as part of the setting. Exterior landscaping and patios complement the residential layout.
The property is approximately 100 feet from Puerta Del Sol golf course, with golf course views and adjoining open space identified as part of the setting. Exterior landscaping and patios complement the residential layout.
Key Highlights
- Three‑unit triplex with 2,789 square feet of building area
- Each residence includes 2 bedrooms and 1 bathroom
- Single‑story courtyard‑style layout with private backyard or patio areas
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
$25,460
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
5.91%
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%
$509,200
$509.2K
Cap Rate 7%
$363,714
$363.7K
Cap Rate 9%
$282,889
$282.9K
Market Conditions
NOI Build-Up for 2,789 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
$38.5K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$36.4K $13.04/SF
− OpEx
−$10.9K −$3.91/SF
NOI
$25.5K $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%
$509,200
Cap Rate 7%
$363,714
Cap Rate 9%
$282,889
Alternative Uses
Best Use
Multifamily LT 5
$363.7K
$318.3K – $424.3K
NOI $25,460 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$336.5K
$294.5K – $392.6K
NOI $23,558 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$674.7K
$590.4K – $787.2K
NOI $47,230 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
410
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
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three single-story residences feature two-bedroom layouts, private patios, and access to golf course open space.
Where is this triplex located?
The property is located at 3403 Anderson Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $431,071.
What are key features of this property?
This property features: Three‑unit triplex with 2,789 square feet of building area; Each residence includes 2 bedrooms and 1 bathroom; Single‑story courtyard‑style layout with private backyard or patio areas
