Updated Triplex with In-Unit
For Sale
$483,995
1003 Carlisle Boulevard SE, Albuquerque, NM 87106
MULTI_FAMILY - Albuquerque, NM
Property Size2,156 SF
Lot Size0.18 Acres
Price / SF$224.49
Days on Market104
Property Features for 1003 Carlisle Boulevard SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-MH*
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Parking
10
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Patio
Appliances
Dryer, FreeStandingGasRange, Refrigerator, Washer
Directions
From Gibson and Carlisle: North On Carlisle to property. Property is on the SW Corner of Smith and Carlisle SE.
Subdivision
42 - UNM South
Standard status
Active
APN
101605651822841514
Size
2,156 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4625
Utilities
Cooling system
Ceiling Fan(s)
Amenities
in-unit washer/dryer
private yard spaces
bonus storage
Building Details
Year built
1947
Floors in Building
1
Number of units
3
Flooring type
Carpet, Wood, Tile
Building materials
Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Added: May 1
Changed: Aug 3
Last Checked: Aug 12 at 11:06AM
MLS# 1103320
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 updated triplex at 1003 Carlisle Boulevard SE (Knob Heights) was built in 1947 and presents three apartments with modernized interiors. The property includes in-unit washer/dryers, updated fixtures and finishes, ceiling fans, and a patio. Flooring includes carpet, wood, and tile, and the exterior is stucco.
The homes include private yard spaces and off-street vehicle options described as garages and carport spaces, along with bonus storage. Appliances listed include a refrigerator, free-standing gas range, washer, and dryer. The property sits on a 0.18-acre lot and totals 2,156 square feet.
Set within an area noted for redevelopment, the property is described as walking distance to Castle Coffee, The Source Community Center, a community garden, and multiple neighborhood parks. It is also described as minutes to UNM, CNM, Kirtland Air Force Base, the Albuquerque International Sunport, and I-25.
The homes include private yard spaces and off-street vehicle options described as garages and carport spaces, along with bonus storage. Appliances listed include a refrigerator, free-standing gas range, washer, and dryer. The property sits on a 0.18-acre lot and totals 2,156 square feet.
Set within an area noted for redevelopment, the property is described as walking distance to Castle Coffee, The Source Community Center, a community garden, and multiple neighborhood parks. It is also described as minutes to UNM, CNM, Kirtland Air Force Base, the Albuquerque International Sunport, and I-25.
Key Highlights
- Updated triplex built in 1947
- In‑unit washer/dryers for all three apartments
- Patio and private yard spaces
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
$19,681
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
4.07%
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%
$393,620
$393.6K
Cap Rate 7%
$281,157
$281.2K
Cap Rate 9%
$218,678
$218.7K
Market Conditions
NOI Build-Up for 2,156 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
$29.8K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$28.1K $13.04/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$19.7K $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%
$393,620
Cap Rate 7%
$281,157
Cap Rate 9%
$218,678
Alternative Uses
Best Use
Multifamily LT 5
$281.2K
$246.0K – $328.0K
NOI $19,681 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$260.2K
$227.6K – $303.5K
NOI $18,211 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$521.6K
$456.4K – $608.5K
NOI $36,511 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
281
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?
Triplex - Updated triplex built in 1947 with in-unit washer/dryers and patio space, positioned for close access to UNM and I-25.
Where is this triplex located?
The property is located at 1003 Carlisle Boulevard SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $483,995.
What are key features of this property?
This property features: Updated triplex built in 1947; In‑unit washer/dryers for all three apartments; Patio and private yard spaces
