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 Market33
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.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Exprealty
Added: Jul 28
Changed: Aug 25
Last Checked: Aug 29 at 1:10PM
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 = 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
$29,513
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
5.65%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
