Four-Plex with Two-Bedroom
For Sale
$600,000
1345-1351 LOS LENTES Road NE, Los Lunas, NM 87031
MULTI_FAMILY - Los Lunas, NM
Property Size3,240 SF
Lot Size0.68 Acres
Price / SF$185.19
Days on Market195
Property Features for 1345-1351 LOS LENTES Road NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 7, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 8, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3
Appliances
FreeStandingGasRange, Refrigerator
Subdivision
Land Of Pedro Chavez
Directions
From Main St and Highway 314 go east to Los Lentes Rd. North to property.
Standard status
Active
APN
1010039040305000000
Size
3,240 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Annual Amount
2352
Utilities
Heating system
Forced Air
Building Details
Year built
1988
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Frame, Stucco
Listing Agency:
Gerald Chavez Realty Inc
(505) 865-4671
Listed By:
Clarissa Chavez-Rivera · License #11406
(505) 450-6682
Added: Jan 30
Changed: Aug 10
Last Checked: Aug 13 at 9:06AM
MLS# 1097564
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 four-plex includes four separate units, each with two bedrooms and one bathroom. The property consists of 3,240 square feet on a 0.68-acre lot, built in 1988. Construction materials include frame and stucco. Interior flooring includes carpet and vinyl, and each unit is served by forced-air heating.
Appliances listed include free-standing gas ranges and refrigerators. The units are described as month-to-month rentals.
The property address is 1345-1351 Los Lentes Road NE, Los Lunas, NM 87031, in Valencia County.
Appliances listed include free-standing gas ranges and refrigerators. The units are described as month-to-month rentals.
The property address is 1345-1351 Los Lentes Road NE, Los Lunas, NM 87031, in Valencia County.
Key Highlights
- 3,240 SF four‑plex on a 0.68‑acre lot
- Four units: each has 2 bedrooms and 1 bathroom
- Forced‑air heating throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,005
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$540,100
$540.1K
Cap Rate 7%
$385,786
$385.8K
Cap Rate 9%
$300,056
$300.1K
Market Conditions
NOI Build-Up for 3,240 SF
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.
Gross rent
$40.8K $12.60/SF
− Vacancy
−$2.2K −$0.69/SF
EGI
$38.6K $11.91/SF
− OpEx
−$11.6K −$3.57/SF
NOI
$27.0K $8.33/SF
Area
Valencia County, NM
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$540,100
Cap Rate 7%
$385,786
Cap Rate 9%
$300,056
Alternative Uses
Best Use
Multifamily LT 5
$385.8K
$337.6K – $450.1K
NOI $27,005 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$353.2K
$309.1K – $412.1K
NOI $24,724 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$670.0K
$586.2K – $781.6K
NOI $46,897 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 87031, NM
45,208
Population
16,917
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
255.5 sq mi
ZIP Area
177
Density / Sq Mi
$61,947
Median Household Income
$34,167
Median Earnings
$1,083
Median Rent
$206,600
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?
Quadplex - Four-plex property on 0.68 acres with four two-bedroom, one-bath units and forced-air heating.
Where is this quadplex located?
The property is located at 1345-1351 LOS LENTES Road NE Los Lunas, NM.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,240 SF four‑plex on a 0.68‑acre lot; Four units: each has 2 bedrooms and 1 bathroom; Forced‑air heating throughout
