Updated Four-Unit Apartment
For Sale
$524,495
1005 Carlisle Boulevard SE, Albuquerque, NM 87106
Four one-bedroom residences offer in-unit laundry, private yard areas, and refreshed fixtures and finishes.
Property Size2,640 SF
Price / SF$198.67
Days on Market39
Property Features for 1005 Carlisle Boulevard SE
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
in unit washer/dryers
private yard spaces
updated fixtures and finishes
Building Details
Year Built
1962
Buildings
1
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
Source:
Thesouthwestlife
Added: Jul 23
Changed: Aug 30
Last Checked: Aug 30 at 1:31PM
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.
This four-unit apartment property contains four one-bedroom, one-bath residences, each measuring just over 660 SF. The 2,640 SF building has received substantial updates, including refreshed fixtures and finishes, in-unit washer and dryers, and private yard areas for each apartment. A new roof was installed in 2025, while vintage elements remain part of the building’s character.
Located at 1005 Carlisle Boulevard SE in Albuquerque’s Knob Heights neighborhood, the property is within walking distance of Castle Coffee, theSource Community Center, a community garden, and several neighborhood parks. The University of New Mexico, Central New Mexico Community College, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are all minutes away.
Located at 1005 Carlisle Boulevard SE in Albuquerque’s Knob Heights neighborhood, the property is within walking distance of Castle Coffee, theSource Community Center, a community garden, and several neighborhood parks. The University of New Mexico, Central New Mexico Community College, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are all minutes away.
Key Highlights
- Four 1 bd / 1 ba apartments, each just over 660 SF
- 2,640 SF property with four apartment units
- New roof installed in 2025
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
$24,100
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
4.59%
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%
$482,000
$482.0K
Cap Rate 7%
$344,286
$344.3K
Cap Rate 9%
$267,778
$267.8K
Market Conditions
NOI Build-Up for 2,640 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
$36.4K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.4K $13.04/SF
− OpEx
−$10.3K −$3.91/SF
NOI
$24.1K $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%
$482,000
Cap Rate 7%
$344,286
Cap Rate 9%
$267,778
Alternative Uses
Best Use
Multifamily LT 5
$344.3K
$301.3K – $401.7K
NOI $24,100 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$318.6K
$278.7K – $371.7K
NOI $22,299 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$638.7K
$558.8K – $745.1K
NOI $44,707 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
308
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences offer in-unit laundry, private yard areas, and refreshed fixtures and finishes.
Where is this quadplex located?
The property is located at 1005 Carlisle Boulevard SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $524,495.
What are key features of this property?
This property features: Four 1 bd / 1 ba apartments, each just over 660 SF; 2,640 SF property with four apartment units; New roof installed in 2025
