Updated Triplex with
119 Charleston Street SE, Albuquerque, NM 87108
For Sale
$299,000
Residential Income, Albuquerque, NM
Property Size1,784 SF
Lot Size0.16 Acres
Price / SF$167.60
Days on Market115
Property Features for 119 Charleston Street SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Number of units
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Gilbert S. Gallegos · License NM #47638
(505) 350-8245
Added: Jul 23
Changed: Nov 12
Last Checked: Nov 14 at 2:06AM
MLS# 1108252
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.
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Investment Insights
Based on property information with market context.
This triplex contains 1,784 square feet across three units, each equipped with a mini-split system. The property has a new TPO roof, replacement windows and doors, and fresh interior paint. The room inventory includes three bedrooms and three bathrooms. Built in 1955, the building sits on a 0.16-acre parcel and is zoned MX-L*.
Located at 119 Charleston Street SE in Albuquerque, the property is currently fully leased.
Located at 119 Charleston Street SE in Albuquerque, the property is currently fully leased.
Key Highlights
- Three‑unit property with all residences currently leased
- 1,784 square feet on a 0.16‑acre parcel
- Mini‑split system in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,286
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,720
$325.7K
Cap Rate 7%
$232,657
$232.7K
Cap Rate 9%
$180,956
$181.0K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$24.6K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.3K $13.04/SF
− OpEx
−$7.0K −$3.91/SF
NOI
$16.3K $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 Rate 5%
$325,720
Cap Rate 7%
$232,657
Cap Rate 9%
$180,956
Alternative Uses
Best Use
Multifamily LT 5
$232.7K
$203.6K – $271.4K
NOI $16,286 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,069 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$431.6K
$377.6K – $503.5K
NOI $30,211 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
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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
$227,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Albuquerque, NM
Properties on Market for Triplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - All three units are leased, and each has its own mini-split system.
Where is this triplex located?
The property is located at 119 Charleston Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑unit property with all residences currently leased; 1,784 square feet on a 0.16‑acre parcel; Mini‑split system in each unit
