Four-Unit Apartment Property with
1216 Coal Ave, Albuquerque, NM 87102
For Sale
$575,000
Pending
The property contains four one-bedroom residences, each with one bathroom and a private outdoor patio area.
Property Size3,000 SF
Days on Market108
Property Features for 1216 Coal Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
private patios
Building Details
Year Built
Listing Agency:
RE/MAX SELECT
Listed By:
Lisa Parker · License NM #30211
(505) 220-7068
Source:
Myabqhomesearch
Added: Jul 30
Changed: Nov 10
Last Checked: Nov 10 at 12:12PM
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 RE/MAX SELECT
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Investment Insights
Based on property information with market context.
Built in 1941, this 3,000-square-foot quadplex contains four one-bedroom, one-bath units. Each residence includes a small private patio, and the units are in average cosmetic condition. Capital improvements have been completed, with additional details available in the property documents.
Three units are occupied by longtime tenants under month-to-month leases. The property is located at 1216 Coal Avenue SW in Albuquerque, within walking distance of downtown cafes and restaurants, the farmers market, Old Town, Tingley Beach, Rio Grande Pool & Park, the zoo, and ACC. Bicycle access connects with the trail system along the Rio Grande Bosque.
Three units are occupied by longtime tenants under month-to-month leases. The property is located at 1216 Coal Avenue SW in Albuquerque, within walking distance of downtown cafes and restaurants, the farmers market, Old Town, Tingley Beach, Rio Grande Pool & Park, the zoo, and ACC. Bicycle access connects with the trail system along the Rio Grande Bosque.
Key Highlights
- Four one‑bedroom, one‑bath units
- 3,000 SF quadplex built in 1941
- Small private patio for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,386
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,720
$547.7K
Cap Rate 7%
$391,229
$391.2K
Cap Rate 9%
$304,289
$304.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$41.4K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$39.1K $13.04/SF
− OpEx
−$11.7K −$3.91/SF
NOI
$27.4K $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%
$547,720
Cap Rate 7%
$391,229
Cap Rate 9%
$304,289
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,386 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$362.0K
$316.8K – $422.3K
NOI $25,340 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,077
Businesses Nearby
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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
$174,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Albuquerque, NM
Properties on Market for Quadplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The property contains four one-bedroom residences, each with one bathroom and a private outdoor patio area.
Where is this quadplex located?
The property is located at 1216 Coal Ave Albuquerque, NM.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 3,000 SF quadplex built in 1941; Small private patio for each unit
