Furnished Apartment Complex For
For Sale
Contact for pricing
1801-1821 Lead Ave SE, Albuquerque, NM 87106
Furnished apartment complex with utilities included and on-site parking.
Property Size17,980 SF
Price / SF$211.35
Days on Market246
Property Features for 1801-1821 Lead Ave SE
General Information
Standard status
Active
Size
17,980 SF
Property subtype
Multifamily
Occupancy
100%
Building Details
Buildings
5
Stories
2
Units
32
Listing Agency:
Berger Briggs Real Estate & Insurance Inc
Listed By:
Dave Vincioni · License #NM 31771AB
Source:
Crexi
Added: Feb 13
Changed: Oct 11
Last Checked: Oct 16 at 6:22AM
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 Berger Briggs Real Estate & Insurance Inc
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Investment Insights
Based on property information with market context.
The complex offers a selection of apartments including one efficiency, eight studios, nineteen one-bedroom, and four two-bedroom units. Maximum occupancy is one, two, and four people respectively. All apartments are furnished with oak furniture, and rates include utilities such as gas, water, electricity, and Wi-Fi. Full-size appliances are gas-powered. Apartments are pre-wired for telephone, DSL, cable TV, and high-speed internet. The complex provides several BBQ areas and a laundry facility on-site. The property is illuminated from dusk to dawn. There are 36 on-site parking spaces reserved for tenants. All apartments are non-smoking and the complex is a pet-free area. The landlord is consistently renewing and upgrading the apartments with new furnishings, appliances, carpet, and paint. The property size is 17980 square feet.
Key Highlights
- Utilities included: gas, water, electricity, and Wi‑Fi.
- Furnished apartments with oak furniture.
- On‑site parking spaces reserved for tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,871
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,037,420
$3.0M
Cap Rate 7%
$2,169,586
$2.2M
Cap Rate 9%
$1,687,456
$1.7M
Market Conditions
NOI Build-Up for 17,980 SF
Gross rent
$291.3K $16.20/SF
− Vacancy
−$15.1K −$0.84/SF
EGI
$276.1K $15.36/SF
− OpEx
−$124.3K −$6.91/SF
NOI
$151.9K $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 Rate 5%
$3,037,420
Cap Rate 7%
$2,169,586
Cap Rate 9%
$1,687,456
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,871 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.07M
NOI $304,481 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,136
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Furnished apartment complex with utilities included and on-site parking.
Where is this apartment building located?
The property is located at 1801-1821 Lead Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Utilities included: gas, water, electricity, and Wi‑Fi.; Furnished apartments with oak furniture.; On‑site parking spaces reserved for tenants.
