6-Unit Apartment
For Sale
$565,000
426 Towner Ave NW, Albuquerque, NM 87102
Three detached structures provide separately entered residences with individually metered gas and electric service.
Property Size3,191 SF
Price / SF$177.06
Days on Market64
Property Features for 426 Towner Ave NW
General Information
Standard status
Active
Size
3,191 SF
Property subtype
Multi-Family
Building Details
Year Built
1946
Listing Agency:
Weichert, Realtors Image
Listed By:
Peter A Cochran · License #20811
(505) 314-6181
Source:
Thesouthwestlife
Added: Aug 5
Changed: Oct 4
Last Checked: Oct 5 at 9:48PM
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 Weichert, Realtors Image
Investment Insights
Based on property information with market context.
This 6-unit apartment property comprises three separate structures, each containing two residences, for a total of 3,191 square feet. Built in 1946, the residences feature private entrances and practical layouts. Gas and electric service are separately metered for each unit, and the property is professionally managed and fully occupied.
The property is located at 426 Towner Ave NW in Albuquerque’s Near North Valley, with proximity to employment, transit, and amenities. Investment metrics include a 6.06% cap rate, 9.53 GRM, and 13.40% IRR based on the owner’s pro forma.
The property is located at 426 Towner Ave NW in Albuquerque’s Near North Valley, with proximity to employment, transit, and amenities. Investment metrics include a 6.06% cap rate, 9.53 GRM, and 13.40% IRR based on the owner’s pro forma.
Key Highlights
- Six units arranged across three separate two‑unit structures
- 3,191 SF apartment property built in 1946
- Private entrances and practical residential layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,953
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,060
$539.1K
Cap Rate 7%
$385,043
$385.0K
Cap Rate 9%
$299,478
$299.5K
Market Conditions
NOI Build-Up for 3,191 SF
Gross rent
$51.7K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.0K $15.36/SF
− OpEx
−$22.1K −$6.91/SF
NOI
$27.0K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,060
Cap Rate 7%
$385,043
Cap Rate 9%
$299,478
Alternative Uses
Best Use
Apartment 5plus
$385.0K
$336.9K – $449.2K
NOI $26,953 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$772.0K
$675.5K – $900.6K
NOI $54,038 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property
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?
Apartment building - Three detached structures provide separately entered residences with individually metered gas and electric service.
Where is this apartment building located?
The property is located at 426 Towner Ave NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Six units arranged across three separate two‑unit structures; 3,191 SF apartment property built in 1946; Private entrances and practical residential layouts
