Four-Unit Quadplex with Hardwood
For Sale
$612,369
715 Fruit Avenue NW, Albuquerque, NM 87102
ResidentialIncome, Albuquerque, NM
Property Size2,660 SF
Lot Size0.18 Acres
Price / SF$230.21
Days on Market153
Property Features for 715 Fruit Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-ML*
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 1
Appliances
Refrigerator
Subdivision
Armijo Brothers Addition
Directions
From I-40 and Twelfth street - head north to Fruit, east to property.
Standard status
Active
APN
101405807412032804
Size
2,660 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Lots 186 & 187, Block 17 Armijo Brothers Addition
Tax Annual Amount
5318
Legal Description
Lots 186 & 187, Block 17 Armijo Brothers Addition
Utilities
Heating system
Forced Air, Central
Amenities
separate laundry room
high speed internet
camera system
hardwood floors
vaulted ceilings
Building Details
Year built
1916
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Wood
Building materials
Frame, Stucco, WoodSiding
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Apr 6
Changed: Sep 1
Last Checked: Sep 5 at 9:06AM
MLS# 1101217
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.
Built in 1916, this 2,660-square-foot quadplex contains four units: one studio, two one-bedroom/one-bath units, and a larger two-bedroom/one-bath residence. Hardwood flooring is installed throughout the units, while the front residences feature vaulted ceilings. The property has frame, stucco, and wood siding construction, with forced-air and central heating systems.
Set on a 0.18-acre parcel in Albuquerque, the property is near Downtown and Old Town, with nearby breweries, coffee shops, restaurants, grocery stores, major bus routes, and courthouses. Residents have access to alley and on-street parking, along with a separate laundry room, high-speed internet, and a camera system.
Set on a 0.18-acre parcel in Albuquerque, the property is near Downtown and Old Town, with nearby breweries, coffee shops, restaurants, grocery stores, major bus routes, and courthouses. Residents have access to alley and on-street parking, along with a separate laundry room, high-speed internet, and a camera system.
Key Highlights
- Four units: one studio, two 1BR/1BA units, and one 2BR/1BA residence
- 2,660 square feet on a 0.18‑acre parcel
- Built in 1916 with frame, stucco, and wood siding construction
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
$24,282
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
3.97%
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%
$485,640
$485.6K
Cap Rate 7%
$346,886
$346.9K
Cap Rate 9%
$269,800
$269.8K
Market Conditions
NOI Build-Up for 2,660 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
$36.7K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.7K $13.04/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$24.3K $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%
$485,640
Cap Rate 7%
$346,886
Cap Rate 9%
$269,800
Alternative Uses
Best Use
Multifamily LT 5
$346.9K
$303.5K – $404.7K
NOI $24,282 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$321.0K
$280.9K – $374.5K
NOI $22,468 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$643.5K
$563.1K – $750.8K
NOI $45,046 @ 7.0% cap · market cap 7.36%
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
3,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
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 - Unit mix includes a studio, two one-bedroom apartments, and a two-bedroom residence.
Where is this quadplex located?
The property is located at 715 Fruit Avenue NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $612,369.
What are key features of this property?
This property features: Four units: one studio, two 1BR/1BA units, and one 2BR/1BA residence; 2,660 square feet on a 0.18‑acre parcel; Built in 1916 with frame, stucco, and wood siding construction
