Updated 2BR/1BA
1315 Madeira Drive SE Albuquerque, NM 87108
New
For Sale
$522,720
MULTI_FAMILY - Albuquerque, NM
Property Size3,233 SF
Lot Size0.20 Acres
Price / SF$161.68
Days on Market2
Property Features for 1315 Madeira Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
3
Bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
Parking
6
Appliances
Refrigerator
Standard status
Active
APN
101805605504330208
Size
3,233 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
B-4 26 Summary Plat Tract B Virginia Place Addn
Tax Annual Amount
3387
Utilities
Heating system
Forced Air
Building Details
Year built
1980
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Block, Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Jul 28
Last Checked: Jul 29 at 12:06PM
MLS# 1108087
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 fourplex offers updated 2-bedroom, 1-bath floor plans with quality interior improvements. Units feature solid-surface flooring throughout, modern fixtures, and full-size washer/dryers located in separate utility closets. Kitchens are described as large and updated, with appliances included, including dishwashers. The property also includes big courtyard spaces.
The fourplex is part of a larger 16-unit (4 x fourplexes) community developed by Dr. Carl Baum. Public remarks also connect the development to his work at Kirtland Air Force Base.
For buyers evaluating income potential, public remarks include specific investment performance measures, including cap rates before and after reserves and an after-tax IRR, based on the stated ask price and unit count.
The fourplex is part of a larger 16-unit (4 x fourplexes) community developed by Dr. Carl Baum. Public remarks also connect the development to his work at Kirtland Air Force Base.
For buyers evaluating income potential, public remarks include specific investment performance measures, including cap rates before and after reserves and an after-tax IRR, based on the stated ask price and unit count.
Key Highlights
- Fourplex in a 16‑unit (4 x fourplexes) community developed by Dr. Carl Baum.
- Built in 1980 with block, frame, and stucco construction.
- Upgraded 2‑bedroom/1‑bath floor plans with modern fixtures, large updated kitchens, and all appliances including dishwashers.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $13.80 |
| − Vacancy | −$2.5k | −$0.76 |
| EGI | $42.2k | $13.04 |
| − OpEx | −$12.6k | −$3.91 |
| NOI | $29.5k | $9.13 |
3,233 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with upgraded 2-bedroom, 1-bath units, solid-surface flooring, and in-unit full-size washer and dryer hookups.
Where is this quadplex located?
The property is located at 1315 Madeira Drive 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: Fourplex in a 16‑unit (4 x fourplexes) community developed by Dr. Carl Baum.; Built in 1980 with block, frame, and stucco construction.; Upgraded 2‑bedroom/1‑bath floor plans with modern fixtures, large updated kitchens, and all appliances including dishwashers.
