7-Unit Apartment
For Sale
$764,977
Pending
4600 Zuni Rd SE, Albuquerque, NM 87108
Two triplexes and a separate casita provide varied unit layouts with private outdoor areas and off-street parking.
Property Size4,200 SF
Days on Market12
Property Features for 4600 Zuni Rd SE
General Information
Standard status
Pending
Size
4,200 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x 1BR, 2 x 2BR
Multifamily Units
7
Amenities
patio / front porch entries
hardwood floors
updated kitchens
off-street parking
washer/dryer in unit
Building Details
Year Built
1958
Buildings
3
Listing Agency:
Platlabs, LLC
(303) 848-6215
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 6:54AM
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 Platlabs, LLC
Investment Insights
Based on property information with market context.
This 7-unit apartment property at 4600 Zuni Rd comprises two triplexes and a detached casita. Each triplex contains two 1-bedroom apartments and one 2-bedroom apartment, while the casita adds another 1-bedroom residence with its own private yard. The 2-bedroom units include in-unit washer and dryer connections and larger backyard areas.
Apartments have been updated to varying degrees, with features that include built-in storage, hardwood flooring, open kitchen layouts, and generous living areas. Gas and electric service are separately metered for every unit. Outdoor entries include patios or front porches, and the property offers off-street parking. The complex was built in 1958 and is positioned on a quiet block near Nob Hill, Highland Pool, and parks.
Apartments have been updated to varying degrees, with features that include built-in storage, hardwood flooring, open kitchen layouts, and generous living areas. Gas and electric service are separately metered for every unit. Outdoor entries include patios or front porches, and the property offers off-street parking. The complex was built in 1958 and is positioned on a quiet block near Nob Hill, Highland Pool, and parks.
Key Highlights
- 7‑unit apartment property built in 1958
- Two triplexes plus a standalone 1‑bedroom casita
- Unit mix includes four 1‑bedroom and two 2‑bedroom apartments
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
$35,476
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
4.64%
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%
$709,520
$709.5K
Cap Rate 7%
$506,800
$506.8K
Cap Rate 9%
$394,178
$394.2K
Market Conditions
NOI Build-Up for 4,200 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
$68.0K $16.20/SF
− Vacancy
−$3.5K −$0.84/SF
EGI
$64.5K $15.36/SF
− OpEx
−$29.0K −$6.91/SF
NOI
$35.5K $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 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%
$709,520
Cap Rate 7%
$506,800
Cap Rate 9%
$394,178
Alternative Uses
Best Use
Apartment 5plus
$506.8K
$443.5K – $591.3K
NOI $35,476 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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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 - Two triplexes and a separate casita provide varied unit layouts with private outdoor areas and off-street parking.
Where is this apartment building located?
The property is located at 4600 Zuni Rd SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $764,977.
What are key features of this property?
This property features: 7‑unit apartment property built in 1958; Two triplexes plus a standalone 1‑bedroom casita; Unit mix includes four 1‑bedroom and two 2‑bedroom apartments
