Updated 8-Unit Apartment
For Sale
$1,069,900
3434-3438 Thaxton Ave SE, Albuquerque, NM 87106
Residents have in-unit laundry, private outdoor areas, and secured detached storage.
Property Size6,120 SF
Price / SF$174.82
Days on Market19
Property Features for 3434-3438 Thaxton Ave SE
General Information
Standard status
Active
Size
6,120 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Amenities
secured detached storage closets
private patios/yard spaces
stacked washer/dryer
Building Details
Year Built
1963
Listing Agency:
Sonoran Holdings, LLC
(505) 818-5280
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 30
Changed: Oct 16
Last Checked: Oct 16 at 8:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sonoran Holdings, LLC
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Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 6,120 square feet and dates to 1963. Each apartment has two bedrooms and one bathroom. End units offer additional interior storage and a walk-in pantry. Improvements include refreshed fixtures and finishes, new flooring, safety and security updates, and fresh paint inside and out. Each residence also has a stacked washer and dryer, a private patio or yard, and a secured detached storage closet.
The property is adjacent to the Knob Heights community garden and one block from Puerta Del Sol Golf Course, a swimming pool, Source-One Community Center, and parks in the Hyder Park, Edge Crest, and Ridge Crest areas.
The property is adjacent to the Knob Heights community garden and one block from Puerta Del Sol Golf Course, a swimming pool, Source-One Community Center, and parks in the Hyder Park, Edge Crest, and Ridge Crest areas.
Key Highlights
- 8 apartments, each with 2 bedrooms and 1 bathroom
- 6,120 square feet; built in 1963
- End apartments include a walk‑in pantry and added interior storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,694
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,880
$1.0M
Cap Rate 7%
$738,486
$738.5K
Cap Rate 9%
$574,378
$574.4K
Market Conditions
NOI Build-Up for 6,120 SF
Gross rent
$99.1K $16.20/SF
− Vacancy
−$5.2K −$0.84/SF
EGI
$94.0K $15.36/SF
− OpEx
−$42.3K −$6.91/SF
NOI
$51.7K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,880
Cap Rate 7%
$738,486
Cap Rate 9%
$574,378
Alternative Uses
Best Use
Apartment 5plus
$738.5K
$646.2K – $861.6K
NOI $51,694 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,639 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
341
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
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have in-unit laundry, private outdoor areas, and secured detached storage.
Where is this apartment building located?
The property is located at 3434-3438 Thaxton Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,069,900.
What are key features of this property?
This property features: 8 apartments, each with 2 bedrooms and 1 bathroom; 6,120 square feet; built in 1963; End apartments include a walk‑in pantry and added interior storage
