4-Unit Apartment
For Sale
$350,000
123 General Arnold St NE, Albuquerque, NM 87123
Each residence provides a two-bedroom, one-bath layout, with individual utility metering offering an option to separate services.
Property Size3,060 SF
Price / SF$114.38
Days on Market90
Property Features for 123 General Arnold St NE
General Information
Standard status
Active
Size
3,060 SF
Property subtype
Multi-Family
Net Operating Income
$33,257
Financials
Cap Rate
9.24%
Gross Rent Multiplier
7.6
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1956
Buildings
1
Listing Agency:
Keyway Properties, Inc
Listed By:
Angelo Mora · License #REC20230254
(505) 903-2040
Source:
Thesouthwestlife
Added: Jul 11
Changed: Sep 13
Last Checked: Oct 7 at 1:07PM
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 Keyway Properties, Inc
Investment Insights
Based on property information with market context.
This quadplex contains four residential apartments, each configured with two bedrooms and one bathroom. The building has individual gas and electric meters, while utilities are currently included for tenants participating in subsidized housing programs. MX-T zoning is identified for the property.
The property is situated in an established rental area surrounded by other multifamily properties. Reported operating metrics include a 9.24% cap rate, 13% cash-on-cash return, and 7.6 GRM. The property is offered in as-is condition. Tenant contact is restricted, and walkthroughs are not permitted until earnest money has been delivered to title; inspections are for buyer knowledge only.
The property is situated in an established rental area surrounded by other multifamily properties. Reported operating metrics include a 9.24% cap rate, 13% cash-on-cash return, and 7.6 GRM. The property is offered in as-is condition. Tenant contact is restricted, and walkthroughs are not permitted until earnest money has been delivered to title; inspections are for buyer knowledge only.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- Current cap rate: 9.24%
- Current cash‑on‑cash return: 13%
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,934
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,680
$558.7K
Cap Rate 7%
$399,057
$399.1K
Cap Rate 9%
$310,378
$310.4K
Market Conditions
NOI Build-Up for 3,060 SF
Gross rent
$42.2K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$39.9K $13.04/SF
− OpEx
−$12.0K −$3.91/SF
NOI
$27.9K $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 Rate 5%
$558,680
Cap Rate 7%
$399,057
Cap Rate 9%
$310,378
Alternative Uses
Best Use
Multifamily LT 5
$399.1K
$349.2K – $465.6K
NOI $27,934 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$369.2K
$323.1K – $430.8K
NOI $25,847 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$740.3K
$647.7K – $863.7K
NOI $51,819 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
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?
Quadplex - Each residence provides a two-bedroom, one-bath layout, with individual utility metering offering an option to separate services.
Where is this quadplex located?
The property is located at 123 General Arnold St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; Current cap rate: 9.24%; Current cash‑on‑cash return: 13%
