Updated 7-Unit Multifamily
For Sale
$1,008,490
1003-1005 Carlisle Blvd, Albuquerque, NM 87106
Two parcels combine a fourplex and triplex with refreshed interiors and private outdoor areas.
Property Size4,805 SF
Price / SF$209.88
Days on Market65
Property Features for 1003-1005 Carlisle Blvd
General Information
Standard status
Active
Size
4,805 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
7
Amenities
in-unit washer/dryer
private yard spaces
Building Details
Year Built
1947
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
Source:
Myabqhomesearch
Added: Jun 26
Changed: Aug 28
Last Checked: Aug 25 at 7:14AM
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 Deacon Property Services
Investment Insights
Based on property information with market context.
The property at 1003–1005 Carlisle Blvd comprises two separate parcels packaged as one multifamily offering, with a fourplex and a triplex totaling 7 apartments. Built in 1947, the 4,805-square-foot compound has undergone comprehensive updates while retaining vintage character. Each residence includes an in-unit washer and dryer, and private yard spaces extend the living area outdoors.
The property is situated in the Knob Heights Neighborhood on the south side of Ridgecrest, within walking distance of Castle Coffee, the Source Community Center, a community garden, and multiple neighborhood parks. UNM, CNM, Kirtland Air Force Base, the Albuquerque International Sunport, and I-25 are minutes away.
The property is situated in the Knob Heights Neighborhood on the south side of Ridgecrest, within walking distance of Castle Coffee, the Source Community Center, a community garden, and multiple neighborhood parks. UNM, CNM, Kirtland Air Force Base, the Albuquerque International Sunport, and I-25 are minutes away.
Key Highlights
- 7 apartments arranged as a fourplex and triplex
- Two separate parcels conveyed together
- 4,805 SF multifamily compound built in 1947
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
$43,863
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
4.35%
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%
$877,260
$877.3K
Cap Rate 7%
$626,614
$626.6K
Cap Rate 9%
$487,367
$487.4K
Market Conditions
NOI Build-Up for 4,805 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
$66.3K $13.80/SF
− Vacancy
−$3.6K −$0.76/SF
EGI
$62.7K $13.04/SF
− OpEx
−$18.8K −$3.91/SF
NOI
$43.9K $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%
$877,260
Cap Rate 7%
$626,614
Cap Rate 9%
$487,367
Alternative Uses
Best Use
Multifamily LT 5
$626.6K
$548.3K – $731.1K
NOI $43,863 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$579.8K
$507.3K – $676.4K
NOI $40,586 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,370 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
340
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two parcels combine a fourplex and triplex with refreshed interiors and private outdoor areas.
Where is this multifamily property located?
The property is located at 1003-1005 Carlisle Blvd Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,008,490.
What are key features of this property?
This property features: 7 apartments arranged as a fourplex and triplex; Two separate parcels conveyed together; 4,805 SF multifamily compound built in 1947
