Quadplex with Courtyard and Private
For Sale
$479,900
11009 Towner Avenue NE, Albuquerque, NM 87112
ResidentialIncome, Albuquerque, NM
Property Size3,080 SF
Lot Size0.14 Acres
Price / SF$155.81
Days on Market220
Property Features for 11009 Towner Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-MH*
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 2
Parking
6
Appliances
Dishwasher, FreeStandingElectricRange, Refrigerator
Subdivision
Snow Heights
Directions
South on Juan Tabo past Indian School, first turn (west) on Towner. Property on right.
Standard status
Active
APN
102105944924442318
Size
3,080 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3731
Utilities
Heating system
Central, Forced Air
Amenities
grassy and tree covered courtyard
Building Details
Year built
1972
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile
Building materials
Brick, Frame, Stucco
Listing Agency:
RE/MAX SELECT · RE/MAX International
(505) 798-1000
Listed By:
Nathan Louis Boitano · License #REC-2025-0807
(505) 301-4170
Added: Jan 19
Changed: Aug 19
Last Checked: Aug 27 at 7:06PM
MLS# 1102912
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.
Well maintained quadplex on a 0.14-acre lot featuring a grassy, tree-covered courtyard and private parking spots for residents. The property includes four occupied units: two 2 bed, 1 bath units and two 1 bed, 1 bath units. Separate electric metering is provided for each unit, with a master meter serving gas and water/sewer.
The building is constructed with brick, frame, and stucco and was built in 1972. Interior finishes include tile and carpet, and the homes are heated with forced air and central systems.
The current setup supports straightforward resident management, and the projected 6% CAP rate is supported by strong income potential and a highly rentable area.
The building is constructed with brick, frame, and stucco and was built in 1972. Interior finishes include tile and carpet, and the homes are heated with forced air and central systems.
The current setup supports straightforward resident management, and the projected 6% CAP rate is supported by strong income potential and a highly rentable area.
Key Highlights
- 0.14‑acre quadplex with a grassy, tree‑covered courtyard and private parking spots
- All units occupied: two 2 bed, 1 bath units and two 1 bed, 1 bath units
- Individually metered electric for each unit; master meter for gas and water/sewer
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
$28,116
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
5.86%
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%
$562,320
$562.3K
Cap Rate 7%
$401,657
$401.7K
Cap Rate 9%
$312,400
$312.4K
Market Conditions
NOI Build-Up for 3,080 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
$42.5K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$40.2K $13.04/SF
− OpEx
−$12.0K −$3.91/SF
NOI
$28.1K $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%
$562,320
Cap Rate 7%
$401,657
Cap Rate 9%
$312,400
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.6K
NOI $28,116 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,016 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$745.1K
$652.0K – $869.3K
NOI $52,158 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
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 - Four occupied units with a grassy, tree-covered courtyard and private parking spots, with individually metered electric.
Where is this quadplex located?
The property is located at 11009 Towner Avenue NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 0.14‑acre quadplex with a grassy, tree‑covered courtyard and private parking spots; All units occupied: two 2 bed, 1 bath units and two 1 bed, 1 bath units; Individually metered electric for each unit; master meter for gas and water/sewer
