Renovated Side-by-Side
For Sale
Contact for pricing
1116 Palomas Dr SE, Albuquerque, NM 87108
Renovated two-bedroom triplexes with hardwood floors, built-in washer/dryer, and covered parking in a gated community.
Property SizeContact for details
Days on Market124
Property Features for 1116 Palomas Dr SE
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Cap Rate
6.6%
Multifamily Units
3
Amenities
hardwood floors
ceramic tile
built-in washer/dryer
covered parking
gated community
shared landscaped areas
Listing Agency:
N.M. Apartments, Inc.
(505) 440-8633
Listed By:
Todd Clarke · License #13711
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 22 at 11:01PM
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
Two side-by-side, owner-occupant quality triplexes in a shared gated community featuring renovated 1950s vintage units. The property offers large two-bedroom apartments with hardwood floors and ceramic tile, plus built-in washer/dryer in each unit and covered parking.
The triplexes are located at 1112 and 1116 Palomas SE in Albuquerque’s 87108 area, near the VA hospital and the planned Thunderbird development. The community setting includes shared gated access and shared landscaped areas.
Per the offering materials for 1116 Palomas SE, performance measures at the time of publication included a GRM of 10.99 and a 6.60% cap rate based on current average rent of $758, along with $100,000 per unit. The materials also note that if rents move to a market average of $842, the cap rate is shown as improving to 7.50%, with cash on cash of 11.90%.
The triplexes are located at 1112 and 1116 Palomas SE in Albuquerque’s 87108 area, near the VA hospital and the planned Thunderbird development. The community setting includes shared gated access and shared landscaped areas.
Per the offering materials for 1116 Palomas SE, performance measures at the time of publication included a GRM of 10.99 and a 6.60% cap rate based on current average rent of $758, along with $100,000 per unit. The materials also note that if rents move to a market average of $842, the cap rate is shown as improving to 7.50%, with cash on cash of 11.90%.
Key Highlights
- Two side‑by‑side triplexes in a shared gated community at 1112 & 1116 Palomas SE, Albuquerque, NM 87108
- Renovated 1950s vintage units with large two‑bedroom layouts
- Each unit features hardwood floors, ceramic tile, and a built‑in washer/dryer
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,567
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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 - Renovated two-bedroom triplexes with hardwood floors, built-in washer/dryer, and covered parking in a gated community.
Where is this triplex located?
The property is located at 1116 Palomas Dr SE Albuquerque, NM.
What are key features of this property?
This property features: Two side‑by‑side triplexes in a shared gated community at 1112 & 1116 Palomas SE, Albuquerque, NM 87108; Renovated 1950s vintage units with large two‑bedroom layouts; Each unit features hardwood floors, ceramic tile, and a built‑in washer/dryer
