Updated Fourplex With
For Sale
$522,720
1315 Madeira Dr Se, Albuquerque, NM 87108
Four upgraded two-bedroom units offer modern fixtures, full-size laundry, equipped kitchens, and separate utility closets.
Property Size3,233 SF
Price / SF$161.68
Days on Market78
Property Features for 1315 Madeira Dr Se
General Information
Standard status
Active
Size
3,233 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Asking Price
$522,720
Taxes and HOA fees
Annual Taxes
$3,387
Amenities
solid surface flooring
modern fixtures
full size washer/dryers
big courtyard spaces
updated kitchens
dishwashers
Building Details
Buildings
1
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Exprealty
Added: Jul 28
Changed: Oct 12
Last Checked: Oct 12 at 10:49PM
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 NM Apartment Advisors, Inc.
Investment Insights
Based on property information with market context.
The fourplex at 1315 Madeira Dr SE in Albuquerque contains four two-bedroom, one-bath units within a 3,233-square-foot property. Interior improvements include solid-surface flooring, contemporary fixtures, updated kitchens with appliances and dishwashers, and full-size washer/dryer sets housed in separate utility closets. Courtyard areas add shared outdoor space for residents.
The property forms part of a 16-unit community comprising four fourplex buildings. The community was developed in the early 1970s by Dr. Carl Baum, an engineer associated with Kirtland Air Force Base and electromagnetic pulse research. Its configuration provides a compact multifamily asset with a consistent unit layout and upgraded resident amenities.
The property forms part of a 16-unit community comprising four fourplex buildings. The community was developed in the early 1970s by Dr. Carl Baum, an engineer associated with Kirtland Air Force Base and electromagnetic pulse research. Its configuration provides a compact multifamily asset with a consistent unit layout and upgraded resident amenities.
Key Highlights
- Four‑unit multifamily building with 3,233 SF
- Each unit includes 2 bedrooms and 1 bathroom
- Updated kitchens include appliances and dishwashers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,513
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,260
$590.3K
Cap Rate 7%
$421,614
$421.6K
Cap Rate 9%
$327,922
$327.9K
Market Conditions
NOI Build-Up for 3,233 SF
Gross rent
$44.6K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.2K $13.04/SF
− OpEx
−$12.6K −$3.91/SF
NOI
$29.5K $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%
$590,260
Cap Rate 7%
$421,614
Cap Rate 9%
$327,922
Alternative Uses
Best Use
Multifamily LT 5
$421.6K
$368.9K – $491.9K
NOI $29,513 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$390.1K
$341.4K – $455.1K
NOI $27,308 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$782.1K
$684.4K – $912.5K
NOI $54,749 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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?
Quadplex - Four upgraded two-bedroom units offer modern fixtures, full-size laundry, equipped kitchens, and separate utility closets.
Where is this quadplex located?
The property is located at 1315 Madeira Dr Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $522,720.
What are key features of this property?
This property features: Four‑unit multifamily building with 3,233 SF; Each unit includes 2 bedrooms and 1 bathroom; Updated kitchens include appliances and dishwashers
