Updated 4-Unit
1502 Gold Avenue SE, Albuquerque, NM 87106
For Sale
$553,865
Residential Income, Albuquerque, NM
Property Size3,105 SF
Lot Size0.09 Acres
Price / SF$178.38
Days on Market29
Property Features for 1502 Gold Avenue SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Number of units
Listing Agency:
LPT Realty
Listed By:
Vertical Real Estate
(877) 366-2213
Added: Oct 13
Changed: Nov 9
Last Checked: Nov 10 at 1:06AM
MLS# 1113515
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.
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Investment Insights
Based on property information with market context.
This 3,105-square-foot quadplex, built in 1940, contains four apartments on a 0.09-acre parcel. The configuration includes three two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. All four apartments have been updated. Improvements include replacement water heaters, heating systems and cooling units, along with electrical upgrades. The property is zoned R-ML*.
The Albuquerque property is situated near the University of New Mexico, UNM Hospital and Presbyterian Hospital. The surrounding area also includes employment centers, educational institutions, shopping, dining and transportation corridors.
The Albuquerque property is situated near the University of New Mexico, UNM Hospital and Presbyterian Hospital. The surrounding area also includes employment centers, educational institutions, shopping, dining and transportation corridors.
Key Highlights
- Four apartments: three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- 3,105 square feet on a 0.09‑acre parcel
- All four units updated; water heaters, heating systems, cooling units and electrical components improved
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 - The unit mix comprises three two-bedroom apartments and one one-bedroom apartment, each with one bathroom.
Where is this quadplex located?
The property is located at 1502 Gold Avenue 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: three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit; 3,105 square feet on a 0.09‑acre parcel; All four units updated; water heaters, heating systems, cooling units and electrical components improved
