Remodeled Triplex With Updated
For Sale
$465,000
1609 Lundy Ln Sw, Albuquerque, NM 87105
Three residential units offer varied layouts, recent improvements, and parking for two or more vehicles per unit.
Property Size2,766 SF
Lot Size0.28 Acres
Price / SF$168.11
Days on Market103
Property Features for 1609 Lundy Ln Sw
General Information
Standard status
Active
Size
2,766 SF
Lot size
0.28 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,465
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Rafael De La Fuente · License #54000
(505) 550-5594
Source:
Exprealty
Added: Jul 5
Changed: Oct 10
Last Checked: Oct 15 at 1:40AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This triplex at 1609 Lundy Ln SW includes three residential units on a 0.28-acre lot. Unit C provides 3 BR, 1 bath, and approximately 1,300 SF, while Units A and B each offer 2 BR, 1 bath, and approximately 733 SF. The property has undergone extensive remodeling, with updated systems, newer appliances, and new windows in Unit C.
The roof was replaced 2 years ago, adding a recent major improvement to the property. Each unit includes parking for two or more vehicles, supporting the practical needs of the residents. The combination of three distinct floor plans, a spacious lot, and completed updates gives the property a flexible multifamily configuration.
The roof was replaced 2 years ago, adding a recent major improvement to the property. Each unit includes parking for two or more vehicles, supporting the practical needs of the residents. The combination of three distinct floor plans, a spacious lot, and completed updates gives the property a flexible multifamily configuration.
Key Highlights
- Triplex on a 0.28‑acre lot at 1609 Lundy Ln SW
- Unit C: 3 BR, 1 bath, approx 1, 300 sf
- Units A and B: 2 BR, 1 bath, approx 733 sf each
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.
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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 varied layouts, recent improvements, and parking for two or more vehicles per unit.
Where is this triplex located?
The property is located at 1609 Lundy Ln 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: Triplex on a 0.28‑acre lot at 1609 Lundy Ln SW; Unit C: 3 BR, 1 bath, approx 1, 300 sf; Units A and B: 2 BR, 1 bath, approx 733 sf each
