Multifamily Investment in
For Sale
$1,000,000
313-315 Iron Ave. SW, Albuquerque, NM 87102
5,603 SF building with 9 units and 100% occupancy.
Property Size5,603 SF
Price / SF$178.48
Days on Market251
Property Features for 313-315 Iron Ave. SW
General Information
Standard status
Active
Size
5,603 SF
Property subtype
Multifamily
Listing Agency:
(505) 269-9358
Listed By:
Walt Arnold, CCIM, SIOR · License #NM #9117
(505) 269-9358
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Jul 30 at 4:34AM
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 Walt Arnold, CCIM, SIOR
Investment Insights
Based on property information with market context.
This 5,603 SF building located at 313-315 Iron Ave. SW offers an investment opportunity with 9 units and 100% occupancy. The property is situated in a downtown location within Albuquerque, NM. The building layouts are functional, and the MX-L zoning presents potential for a low-rise or garden-style property transformation. The surrounding neighborhood offers access to the Historic Old Town, local shops, and restaurants, as well as cultural attractions like the Albuquerque Museum and the Rio Grande Zoo. Its position near the downtown area provides residents with access to dining, entertainment, and employment opportunities. The property has a patio and outdoor area. The buildings are in fair condition, presenting investors with the opportunity to enhance the real estate asset.
Key Highlights
- 100% Occupancy: Provides immediate and consistent rental income.
- Prime Downtown Location: Offers convenient access to dining, entertainment, and employment opportunities.
- Strong Multifamily Market: Situated in Albuquerque, a market with high demand for multifamily properties.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.8k | $16.20 |
| − Vacancy | −$4.7k | −$0.84 |
| EGI | $86.0k | $15.36 |
| − OpEx | −$38.7k | −$6.91 |
| NOI | $47.3k | $8.45 |
5,603 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$676.1K
$591.6K – $788.8K
NOI $47,327 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,883 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,978
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
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?
Apartment building - 5,603 SF building with 9 units and 100% occupancy.
Where is this apartment building located?
The property is located at 313-315 Iron Ave. SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate and consistent rental income.; Prime Downtown Location: Offers convenient access to dining, entertainment, and employment opportunities.; Strong Multifamily Market: Situated in Albuquerque, a market with high demand for multifamily properties.
