Upgraded Four-Unit Apartment
For Sale
$546,500
1920 Lead Ave, Albuquerque, NM 87106
Distinct apartment layouts feature contemporary finishes and individual heating and cooling systems.
Property Size2,038 SF
Price / SF$268.16
Days on Market145
Property Features for 1920 Lead Ave
General Information
Standard status
Active
Size
2,038 SF
Property subtype
Residential Income
Additional Details
Road Access
Yes
Multifamily Units
4
Building Details
Year Built
1935
Listing Agency:
Deacon Property Services
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Source:
Myabqhomesearch
Added: May 16
Changed: Oct 1
Last Checked: Oct 7 at 12:37PM
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 Deacon Property Services
Investment Insights
Based on property information with market context.
This 2,038 SF quadplex contains four apartments, each with a distinct floor plan and contemporary interior finishes. Recent improvements include a newer roof, thermal windows, updated electrical service, and zoned mini-split heating and cooling in every unit. Artistic details and unit-specific amenities add variation across the property.
The property is located in the UNM area near Roosevelt Park, CNM, UNM Hospital, Downtown, and Presbyterian Hospital, which is two blocks away. The large lot provides off-street parking with access from both the alley and Lead Ave. A detached garage has its own electric meter and offers additional use potential. The property also includes opportunities to create more common and private yard areas or add apartments.
The property is located in the UNM area near Roosevelt Park, CNM, UNM Hospital, Downtown, and Presbyterian Hospital, which is two blocks away. The large lot provides off-street parking with access from both the alley and Lead Ave. A detached garage has its own electric meter and offers additional use potential. The property also includes opportunities to create more common and private yard areas or add apartments.
Key Highlights
- Four‑unit quadplex with 2,038 SF of property size
- Newer roof, thermal windows, and updated electrical service
- Zoned mini‑split heating and cooling in all four apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,604
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,080
$372.1K
Cap Rate 7%
$265,771
$265.8K
Cap Rate 9%
$206,711
$206.7K
Market Conditions
NOI Build-Up for 2,038 SF
Gross rent
$28.1K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.6K $13.04/SF
− OpEx
−$8.0K −$3.91/SF
NOI
$18.6K $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%
$372,080
Cap Rate 7%
$265,771
Cap Rate 9%
$206,711
Alternative Uses
Best Use
Multifamily LT 5
$265.8K
$232.6K – $310.1K
NOI $18,604 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$245.9K
$215.2K – $286.9K
NOI $17,214 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$493.0K
$431.4K – $575.2K
NOI $34,512 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
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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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?
Quadplex - Distinct apartment layouts feature contemporary finishes and individual heating and cooling systems.
Where is this quadplex located?
The property is located at 1920 Lead Ave Albuquerque, NM.
What is the asking price?
The asking price for this property is $546,500.
What are key features of this property?
This property features: Four‑unit quadplex with 2,038 SF of property size; Newer roof, thermal windows, and updated electrical service; Zoned mini‑split heating and cooling in all four apartments
