4-Unit Apartment
1920 Lead Avenue SE, Albuquerque, NM 87106
For Sale
$546,500
Residential Income, Albuquerque, NM
Property Size2,038 SF
Lot Size0.21 Acres
Price / SF$268.16
Days on Market117
Property Features for 1920 Lead Avenue SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Parking
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Deacon Property Services
Listed By:
Kyle E Deacon · License NM #15579
(505) 878-0100
Added: Jul 21
Changed: Nov 13
Last Checked: Nov 14 at 12:06AM
MLS# 1107834
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1935, this four-apartment property contains 2,038 square feet on a 0.21-acre lot. Recent improvements include a newer roof, thermal windows, updated electrical service, mini-split heating and cooling in every apartment, and contemporary interior finishes. The four residences have distinct floor plans and individual design details.
The site has off-street parking and access from both Lead Avenue and the alley. A detached garage has its own electric meter. Presbyterian Hospital is two blocks away; Roosevelt Park, CNM, UNM Hospital, and Downtown are also identified in the surrounding area. Zoning is R-ML*.
The site has off-street parking and access from both Lead Avenue and the alley. A detached garage has its own electric meter. Presbyterian Hospital is two blocks away; Roosevelt Park, CNM, UNM Hospital, and Downtown are also identified in the surrounding area. Zoning is R-ML*.
Key Highlights
- Four apartments totaling 2,038 square feet on a 0.21‑acre lot
- Built in 1935; zoning is R‑ML*
- 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,136
Businesses Nearby
Explore this area
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
$332,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - Each residence has independently zoned mini-split heating and cooling.
Where is this quadplex located?
The property is located at 1920 Lead Avenue SE 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 apartments totaling 2,038 square feet on a 0.21‑acre lot; Built in 1935; zoning is R‑ML*; Mini‑split heating and cooling in all four apartments
