4-Unit Quadplex with Recent
For Sale
$500,000
12704 Dunes Road SE, Albuquerque, NM 87123
ResidentialIncome, Albuquerque, NM
Property Size3,104 SF
Lot Size0.14 Acres
Price / SF$161.08
Days on Market12
Property Features for 12704 Dunes Road SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-ML*
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 2, Bathroom 1
Appliances
FreeStandingGasRange, Refrigerator
Subdivision
Singimg Arrow Subd
Directions
South on Tramway from I-40. Right (west) on Central Avenue. Left (south) onto Dorado Place, and keep to the right on Dorado. Take a right (west) on Dunes.
Standard status
Active
APN
102205624228720436
Size
3,104 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
2606
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile
Building materials
Frame
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(505) 892-1000
Listed By:
Aimee Romero · License #44382
(505) 269-9878
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 24 at 3:06AM
MLS# 1109481
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit quadplex contains 3,104 square feet on a 0.14-acre lot and was built in 1978. The frame property includes a combination of tile and carpet flooring, free-standing gas ranges, and refrigerators. Newer coolers are installed, while the roof and windows are approximately 2 years old.
The property is located at 12704 Dunes Road SE in Albuquerque, with convenient freeway access. Sprouts, Smith's, Michaels, movie theaters, the Singing Arrow Community Center, coffee shops, shopping, and retail are in the surrounding area. All four units are currently rented.
The property is located at 12704 Dunes Road SE in Albuquerque, with convenient freeway access. Sprouts, Smith's, Michaels, movie theaters, the Singing Arrow Community Center, coffee shops, shopping, and retail are in the surrounding area. All four units are currently rented.
Key Highlights
- 4‑unit quadplex with 3,104 square feet on 0.14 acres
- All four units are currently rented
- Roof and windows are approximately 2 years old
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
$28,335
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
5.67%
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%
$566,700
$566.7K
Cap Rate 7%
$404,786
$404.8K
Cap Rate 9%
$314,833
$314.8K
Market Conditions
NOI Build-Up for 3,104 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
$42.8K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.5K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $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%
$566,700
Cap Rate 7%
$404,786
Cap Rate 9%
$314,833
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,335 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$374.5K
$327.7K – $437.0K
NOI $26,218 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$750.9K
$657.1K – $876.1K
NOI $52,564 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
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 - All four units are rented, with tile and carpet flooring plus convenient freeway access.
Where is this quadplex located?
The property is located at 12704 Dunes Road SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4‑unit quadplex with 3,104 square feet on 0.14 acres; All four units are currently rented; Roof and windows are approximately 2 years old
