4-Unit Quadplex with
For Sale
$594,900
12209 Eric Court NE, Albuquerque, NM 87112
Each residence has two bedrooms, one bathroom, and is washer-and-dryer ready.
Property Size3,342 SF
Price / SF$178.01
Days on Market42
Property Features for 12209 Eric Court NE
General Information
Standard status
Active
Size
3,342 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Thrive Real Estate
(505) 585-2599
Listed By:
Matthew A Darrall · License #19072
(505) 270-5051
Source:
1stclassrealtyofsantafe
Added: Sep 19
Changed: Oct 30
Last Checked: Oct 30 at 7:48AM
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 Thrive Real Estate
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Investment Insights
Based on property information with market context.
This 3,342-square-foot quadplex contains four residences, each with two bedrooms and one bathroom. The building dates to 1977. Unit A has a new kitchen and bathroom, along with updated flooring, wall finish, paint, and lighting. Unit D has a new bathroom and windows. All four units received new HVAC systems in August 2024, and the property also has a new roof from that month. Zeroscaped landscaping completes the exterior improvements.
The property is on a cul-de-sac in Albuquerque’s Northeast Heights, near Candelaria and Tramway. The four-unit layout includes washer-and-dryer-ready residences.
The property is on a cul-de-sac in Albuquerque’s Northeast Heights, near Candelaria and Tramway. The four-unit layout includes washer-and-dryer-ready residences.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 3,342 square feet; built in 1977
- New roof and HVAC systems for all units in August 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,508
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,160
$610.2K
Cap Rate 7%
$435,829
$435.8K
Cap Rate 9%
$338,978
$339.0K
Market Conditions
NOI Build-Up for 3,342 SF
Gross rent
$46.1K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$43.6K $13.04/SF
− OpEx
−$13.1K −$3.91/SF
NOI
$30.5K $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%
$610,160
Cap Rate 7%
$435,829
Cap Rate 9%
$338,978
Alternative Uses
Best Use
Multifamily LT 5
$435.8K
$381.4K – $508.5K
NOI $30,508 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$403.3K
$352.9K – $470.5K
NOI $28,229 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$808.5K
$707.4K – $943.3K
NOI $56,595 @ 7.0% cap · market cap 9.51%
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
429
Businesses Nearby
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Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, one bathroom, and is washer-and-dryer ready.
Where is this quadplex located?
The property is located at 12209 Eric Court NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $594,900.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 3,342 square feet; built in 1977; New roof and HVAC systems for all units in August 2024
