Updated
For Sale
$465,000
1609 Lundy Lane SW, Albuquerque, NM 87105
ResidentialIncome, Albuquerque, NM
Property Size2,766 SF
Lot Size0.28 Acres
Price / SF$168.11
Days on Market108
Property Features for 1609 Lundy Lane SW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-1A*
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 1
Parking
2
Interior features
CeilingFans
Appliances
Dryer, FreeStandingGasRange, Refrigerator, Washer
Subdivision
Lundy Add
Directions
From Big Eye, south on I-25.West on Ave Cesar Chavez.South of Goff Blvd SWEast on Lundy Lane. Property on north side of Lundy Lane.
Standard status
Active
APN
101205641413440926
Size
2,766 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
3465
Utilities
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s)
Building Details
Year built
1941
Floors in Building
1
Number of units
3
Flooring type
Laminate, Carpet
Building materials
Frame, Stucco
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Rafael De La Fuente · License #54000
(505) 550-5594
Added: Jun 28
Changed: Oct 8
Last Checked: Oct 13 at 6:06PM
MLS# 1106694
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 2,766-square-foot triplex contains three units on a 0.28-acre lot. Unit C has three bedrooms and one bathroom across approximately 1,300 square feet; Units A and B each have two bedrooms and one bathroom in approximately 733 square feet. The property has undergone extensive interior remodeling, and the roof was replaced two years ago. Unit C also has new windows. Appliances include a washer, dryer, refrigerator, and freestanding gas range.
Each unit has parking for two or more vehicles. The building was constructed in 1941 and has frame and stucco construction, laminate and carpet flooring, forced-air heating, and ceiling fans.
Each unit has parking for two or more vehicles. The building was constructed in 1941 and has frame and stucco construction, laminate and carpet flooring, forced-air heating, and ceiling fans.
Key Highlights
- Three units totaling 2,766 square feet on a 0.28‑acre lot
- Unit mix: one 3‑bedroom, 1‑bath unit of approximately 1,300 square feet and two 2‑bedroom, 1‑bath units of approximately 733 square feet each
- Parking for two or more vehicles at each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,071
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,420
$501.4K
Cap Rate 7%
$358,157
$358.2K
Cap Rate 9%
$278,567
$278.6K
Market Conditions
NOI Build-Up for 2,766 SF
Gross rent
$38.2K $13.80/SF
− Vacancy
−$2.4K −$0.85/SF
EGI
$35.8K $12.95/SF
− OpEx
−$10.7K −$3.88/SF
NOI
$25.1K $9.06/SF
Area
ZIP 87105
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,420
Cap Rate 7%
$358,157
Cap Rate 9%
$278,567
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,071 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$329.2K
$288.0K – $384.1K
NOI $23,043 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$603.5K
$528.1K – $704.1K
NOI $42,247 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
Median Home Value
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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?
Triplex - Three residential units offer a mix of two- and three-bedroom layouts, with parking for at least two vehicles per unit.
Where is this triplex located?
The property is located at 1609 Lundy Lane SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Three units totaling 2,766 square feet on a 0.28‑acre lot; Unit mix: one 3‑bedroom, 1‑bath unit of approximately 1,300 square feet and two 2‑bedroom, 1‑bath units of approximately 733 square feet each; Parking for two or more vehicles at each unit
