Updated
1502 Gold Ave SE, Albuquerque, NM 87106
For Sale
New
$553,865
Four refreshed apartments offer a mix of one- and two-bedroom layouts near UNM and two hospitals.
Property Size3,105 SF
Price / SF$178.38
Days on Market5
Property Features for 1502 Gold Ave SE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
LPT Realty
Listed By:
Vertical Real Estate
(877) 366-2213
Source:
Albuquerquehomefinders
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 2:29PM
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 LPT Realty
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Investment Insights
Based on property information with market context.
This 1940-built fourplex contains 3,105 square feet across four updated apartments. The unit mix comprises three two-bedroom, one-bathroom residences and one one-bedroom, one-bathroom residence, averaging approximately 776 square feet each. Recent work includes replacement water heaters, heating systems and cooling units, along with electrical upgrades.
The property is near the University of New Mexico, UNM Hospital and Presbyterian Hospital. Shopping, dining, educational institutions, employment centers and transportation corridors are also identified in the surrounding area.
The property is near the University of New Mexico, UNM Hospital and Presbyterian Hospital. Shopping, dining, educational institutions, employment centers and transportation corridors are also identified in the surrounding area.
Key Highlights
- Four apartments totaling 3,105 square feet
- Three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- Average unit size of approximately 776 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,345
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,900
$566.9K
Cap Rate 7%
$404,929
$404.9K
Cap Rate 9%
$314,944
$314.9K
Market Conditions
NOI Build-Up for 3,105 SF
Gross rent
$42.8K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.5K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $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%
$566,900
Cap Rate 7%
$404,929
Cap Rate 9%
$314,944
Alternative Uses
Best Use
Multifamily LT 5
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$374.7K
$327.8K – $437.1K
NOI $26,227 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$751.2K
$657.3K – $876.4K
NOI $52,581 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,993
Businesses Nearby
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Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Albuquerque, NM
Properties on Market for Quadplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four refreshed apartments offer a mix of one- and two-bedroom layouts near UNM and two hospitals.
Where is this quadplex located?
The property is located at 1502 Gold Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $553,865.
What are key features of this property?
This property features: Four apartments totaling 3,105 square feet; Three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit; Average unit size of approximately 776 square feet
