Renovated Fourplex with Vintage
For Sale
$611,262
124 Princeton Dr, Albuquerque, NM 87106
Four residences include a two- to three-bedroom main house and three one-bedroom apartments.
Property Size2,561 SF
Price / SF$238.68
Days on Market9
Property Features for 124 Princeton Dr
General Information
Standard status
Active
Size
2,561 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Neighborhood
Uht
Utilities to Site
Yes
Units
Unit Mix
1 x 2-3BR, 3 x 1BR
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Annual Taxes
$7,597
Amenities
private patios
landscaped walkways
laundry room
Building Details
Year Built
1945
Year Renovated
2019
Buildings
1
Listing Agency:
Deacon Property Services
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Source:
Exprealty
Added: Oct 18
Changed: Oct 25
Last Checked: Oct 24 at 9:24PM
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 Deacon Property Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 124 Princeton Dr in Albuquerque, this four-unit property pairs a main house with three separate apartments. The house offers two to three bedrooms; each apartment has one bedroom. Built in 1945 and renovated in 2019, the property has thermal windows, mini-split HVAC, updated fixtures, custom tile, and retained original finishes. Total building area is 2,561 square feet.
Private patios and landscaped walkways serve the residences. Parking includes a garage and two carports, and laundry is available through a washer and dryer in the main house plus a shared laundry room for the apartments. Gas and electricity are separately metered for every unit.
The property is at the northeast corner of Princeton and Silver, one block from the University of New Mexico campus. Central New Mexico Community College, Nob Hill, restaurants, cafes, microbreweries, and local retail are also nearby.
Private patios and landscaped walkways serve the residences. Parking includes a garage and two carports, and laundry is available through a washer and dryer in the main house plus a shared laundry room for the apartments. Gas and electricity are separately metered for every unit.
The property is at the northeast corner of Princeton and Silver, one block from the University of New Mexico campus. Central New Mexico Community College, Nob Hill, restaurants, cafes, microbreweries, and local retail are also nearby.
Key Highlights
- Four residences: a 2–3‑bedroom main house and three 1‑bedroom apartments
- 2,561 square feet; built in 1945 and renovated in 2019
- Mini‑split HVAC, thermal windows, custom tile, and updated fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,379
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,580
$467.6K
Cap Rate 7%
$333,986
$334.0K
Cap Rate 9%
$259,767
$259.8K
Market Conditions
NOI Build-Up for 2,561 SF
Gross rent
$35.3K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$33.4K $13.04/SF
− OpEx
−$10.0K −$3.91/SF
NOI
$23.4K $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%
$467,580
Cap Rate 7%
$333,986
Cap Rate 9%
$259,767
Alternative Uses
Best Use
Multifamily LT 5
$334.0K
$292.2K – $389.7K
NOI $23,379 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.5K
NOI $21,632 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$619.6K
$542.1K – $722.8K
NOI $43,369 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences include a two- to three-bedroom main house and three one-bedroom apartments.
Where is this quadplex located?
The property is located at 124 Princeton Dr Albuquerque, NM.
What is the asking price?
The asking price for this property is $611,262.
What are key features of this property?
This property features: Four residences: a 2–3‑bedroom main house and three 1‑bedroom apartments; 2,561 square feet; built in 1945 and renovated in 2019; Mini‑split HVAC, thermal windows, custom tile, and updated fixtures
