Renovated Homes + Development
1321 15th Street NW Albuquerque, NM 87104
1321 15th Street NW, Albuquerque, NM, 87104
$950,000
For Sale
$950,000
MULTI_FAMILY - Albuquerque, NM
Property Size4,100 SF
Lot Size0.13 Acres
Price / SF$231.71
Days on Market161
Property Features for 1321 15th Street NW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bedroom 4, Bedroom 8, Bedroom 10, Bathroom 4, Bedroom 1, Bedroom 9, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 5
- Appliances
- Dishwasher, FreeStandingElectricRange, Refrigerator, RangeHood
- Standard status
- Active
- APN
- 101305838042812093
- Size
- 4,100 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2881
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Ductless
Building Details
- Year built
- 1933
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Vinyl
- Building materials
- Adobe, Frame, SyntheticStucco
Listing Agency
EXP Realty LLC
(505) 554-3873
100 Sun Avenue #650, Albuquerque, NM
Listed by
Anton F Determan · License #53934
(505) 818-9449
Added: Feb 6 Checked: Jul 17 at 6:06 am
MLS# 1104437
Listing URL
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 is a rare opportunity to own three fully renovated homes plus an additional development lot in Albuquerque's highly sought-after Sawmill District. The properties have undergone extensive updates, including renovations to the kitchens, bathrooms, flooring, roofing, windows, stucco, plumbing, water lines, and electrical systems. The location is convenient to Old Town, Sawmill Market, museums, dining, and Downtown Albuquerque. The 0.13-acre property offers immediate income potential, flexibility, and future upside in one of Albuquerque's most desirable neighborhoods. The total property size is 4,100 square feet. It is ideal for investors seeking short-term rentals, long-term rentals, house hacking, multi-generational living, or future development potential.
Key Highlights
- Investment package includes 3 fully renovated homes plus an additional development lot in Albuquerque’s Sawmill District
- Extensive updates reported: kitchens and bathrooms, flooring, roofing, windows, stucco, plumbing, water lines, and electrical systems
- Heating and cooling are ductless (heating) and ductless (cooling)
Local Financial Insights For Apartment 5plus
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 | $66.4k | $16.20 |
| − Vacancy | −$3.5k | −$0.84 |
| EGI | $63.0k | $15.36 |
| − OpEx | −$28.3k | −$6.91 |
| NOI | $34.6k | $8.45 |
4,100 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$494.7K
$432.9K – $577.2K
NOI $34,631 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$991.9K
$867.9K – $1.16M
NOI $69,431 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Three renovated homes plus development lot in Albuquerque's Sawmill District.
Where is this multifamily property located?
The property is located at 1321 15th Street NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Investment package includes 3 fully renovated homes plus an additional development lot in Albuquerque’s Sawmill District; Extensive updates reported: kitchens and bathrooms, flooring, roofing, windows, stucco, plumbing, water lines, and electrical systems; Heating and cooling are ductless (heating) and ductless (cooling)
