Renovated Multi-Family
For Sale
$950,000
1321 15th Street NW, Albuquerque, NM 87104
MULTI_FAMILY - Albuquerque, NM
Property Size4,100 SF
Lot Size0.13 Acres
Price / SF$231.71
Days on Market175
Property Features for 1321 15th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1A*
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 2, Bedroom 8, Bedroom 5, Bedroom 7, Bedroom 10, Bathroom 1, Bathroom 5, Bedroom 9, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 3
Appliances
Dishwasher, FreeStandingElectricRange, Refrigerator, RangeHood
Directions
Sawmill & 15th Street
Subdivision
80 - Downtown Area
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
Listed By:
Anton F Determan · License #53934
(505) 818-9449
Added: Feb 6
Changed: Jul 28
Last Checked: Jul 31 at 5:06AM
MLS# 1104437
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 for-sale investment package includes three fully renovated homes plus an additional development lot in Albuquerque’s Sawmill District. The renovations reportedly include updated kitchens and bathrooms, new flooring, roofing, windows, and stucco, along with plumbing and water line improvements and electrical system updates.
The property is located at 1321 15th Street NW in Albuquerque (87104), with convenient proximity noted to Old Town, Sawmill Market, museums, dining, and Downtown Albuquerque.
The package is sized at 0.13 acres total, with an indicated property size of 4,100 square feet.
The property is located at 1321 15th Street NW in Albuquerque (87104), with convenient proximity noted to Old Town, Sawmill Market, museums, dining, and Downtown Albuquerque.
The package is sized at 0.13 acres total, with an indicated property size of 4,100 square feet.
Key Highlights
- Investment package includes 3 renovated homes plus an additional development lot in Albuquerque’s Sawmill District.
- Extensive updates reported: kitchens, bathrooms, flooring, roofing, windows, stucco, plumbing, water lines, and electrical systems.
- Ductless heating and ductless cooling included.
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 | $56.6k | $13.80 |
| − Vacancy | −$3.1k | −$0.76 |
| EGI | $53.5k | $13.04 |
| − OpEx | −$16.0k | −$3.91 |
| NOI | $37.4k | $9.13 |
4,100 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$534.7K
$467.9K – $623.8K
NOI $37,428 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$494.7K
$432.9K – $577.2K
NOI $34,631 @ 7.0% cap · market cap 3.65%
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
Explore this area
Business Placement
Demographics for 87104, NM
12,537
Population
6,628
Households
1.9
Avg Household Size
43
Median Age
48%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
2,985
Density / Sq Mi
$67,714
Median Household Income
$55,156
Median Earnings
$1,022
Median Rent
$300,000
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?
Triplex - For sale package includes three fully renovated homes and an additional development lot near Old Town.
Where is this triplex 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 renovated homes plus an additional development lot in Albuquerque’s Sawmill District.; Extensive updates reported: kitchens, bathrooms, flooring, roofing, windows, stucco, plumbing, water lines, and electrical systems.; Ductless heating and ductless cooling included.
