Four-Unit Apartment Property with
New
For Sale
$575,000
1216 Coal Avenue SW, Albuquerque, NM 87102
The property contains four one-bedroom residences, each with one bathroom and a private outdoor patio area.
Property Size3,000 SF
Price / SF$191.67
Days on Market7
Property Features for 1216 Coal Avenue SW
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
private patios
Building Details
Year Built
1941
Listing Agency:
RE/MAX SELECT
(505) 265-5111
Listed By:
Lisa Parker · License #lisap
Source:
Sandisells
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 2:15PM
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
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 = 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
$27,386
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
4.76%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,077
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?
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 Avenue SW 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
