Multifamily Property with Private Outdoor
For Sale
$550,000
1237 Menaul Boulevard NW, Albuquerque, NM 87107
Multifamily asset with renovated interiors, refrigerated air, and washer/dryer hookups in every residence.
Property Size3,400 SF
Price / SF$161.76
Days on Market47
Property Features for 1237 Menaul Boulevard NW
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-Family
Building Details
Year Built
1980
Listing Agency:
NAI SunVista Commercial RE
Listed By:
Luke Scarpa · License #REC-2023-0302
(505) 878-0001
Source:
Thesouthwestlife
Added: Aug 22
Changed: Sep 5
Last Checked: Oct 5 at 10:45PM
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 NAI SunVista Commercial RE
Investment Insights
Based on property information with market context.
The property is a multifamily asset built in 1980, with a consistent residential layout featuring two-bedroom, one-bath residences. Interior improvements have been completed in several units, while resident features include refrigerated air, washer/dryer hookups, and private balconies or patios. The uniform configuration supports straightforward property management and a consistent leasing profile.
Located at 1237 Menaul Boulevard NW in Albuquerque, the property is near I-40 and provides access to Downtown Albuquerque, employment centers, and the Indian Pueblo Cultural Center. The offering is presented with a projected 6.83% pro forma cap rate and occupancy reported at 100% as of June 2026.
Located at 1237 Menaul Boulevard NW in Albuquerque, the property is near I-40 and provides access to Downtown Albuquerque, employment centers, and the Indian Pueblo Cultural Center. The offering is presented with a projected 6.83% pro forma cap rate and occupancy reported at 100% as of June 2026.
Key Highlights
- All residences feature a two‑bedroom, one‑bath layout
- Several units have received recent interior renovations
- Refrigerated air and washer/dryer hookups in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,719
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,380
$574.4K
Cap Rate 7%
$410,271
$410.3K
Cap Rate 9%
$319,100
$319.1K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$55.1K $16.20/SF
− Vacancy
−$2.9K −$0.84/SF
EGI
$52.2K $15.36/SF
− OpEx
−$23.5K −$6.91/SF
NOI
$28.7K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,380
Cap Rate 7%
$410,271
Cap Rate 9%
$319,100
Alternative Uses
Best Use
Apartment 5plus
$410.3K
$359.0K – $478.7K
NOI $28,719 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.5K
$719.7K – $959.6K
NOI $57,577 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with renovated interiors, refrigerated air, and washer/dryer hookups in every residence.
Where is this multifamily property located?
The property is located at 1237 Menaul Boulevard NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: All residences feature a two‑bedroom, one‑bath layout; Several units have received recent interior renovations; Refrigerated air and washer/dryer hookups in each unit
