Duplex with Updated Main
For Sale
$535,000
1928 Sunshine Terrace SE, Albuquerque, NM 87106
A second one-bedroom residence is approximately 85% complete and includes its own laundry and mini-split systems.
Property Size2,566 SF
Price / SF$208.50
Days on Market16
Property Features for 1928 Sunshine Terrace SE
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Residential Income
Zoning
R-ML*
Site & Location
Neighborhood
Chl
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,500
Amenities
washer/dryer
mini-splits
swamp cooler
Building Details
Building Size
2,566 SF
Year Built
1950
Buildings
1
Stories
2
Units
2
Listing Agency:
MORE Realty, Inc
(505) 333-9522
Listed By:
Chris J Cantrell
(505) 235-2831
Source:
Goldenshieldsrealty
Added: Oct 15
Changed: Oct 26
Last Checked: Oct 29 at 10:01PM
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 MORE Realty, Inc
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Investment Insights
Based on property information with market context.
This R-ML* zoned duplex includes a two-bedroom, one-bathroom primary residence and a one-bedroom, one-bathroom rear unit. The 2,566-square-foot property was built in 1950. The main home has hardwood floors, a renovated kitchen and bathroom, a utility room with washer and dryer, a newer roof, a new heater, and a new swamp cooler. The rear residence is approximately 85% complete and has its own washer and dryer, mini-split systems, and a metal roof; completion is planned after contract.
A lower-level three-car garage and storage area, along with space across the rear section, are identified as potential areas for additional unit development. The property is near LOBO CROSSING, UNM Stadium, Chick-fil-A, and Target.
A lower-level three-car garage and storage area, along with space across the rear section, are identified as potential areas for additional unit development. The property is near LOBO CROSSING, UNM Stadium, Chick-fil-A, and Target.
Key Highlights
- Two residential units: a 2‑bedroom/1‑bathroom main home and a 1‑bedroom/1‑bathroom rear unit
- Rear residence is approximately 85% complete, with completion planned after contract
- Main home has hardwood floors, updated kitchen and bathroom, and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,424
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,480
$468.5K
Cap Rate 7%
$334,629
$334.6K
Cap Rate 9%
$260,267
$260.3K
Market Conditions
NOI Build-Up for 2,566 SF
Gross rent
$35.4K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$33.5K $13.04/SF
− OpEx
−$10.0K −$3.91/SF
NOI
$23.4K $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%
$468,480
Cap Rate 7%
$334,629
Cap Rate 9%
$260,267
Alternative Uses
Best Use
Multifamily LT 5
$334.6K
$292.8K – $390.4K
NOI $23,424 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$309.6K
$270.9K – $361.2K
NOI $21,674 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$620.8K
$543.2K – $724.2K
NOI $43,454 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
557
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?
Duplex - A second one-bedroom residence is approximately 85% complete and includes its own laundry and mini-split systems.
Where is this duplex located?
The property is located at 1928 Sunshine Terrace SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two residential units: a 2‑bedroom/1‑bathroom main home and a 1‑bedroom/1‑bathroom rear unit; Rear residence is approximately 85% complete, with completion planned after contract; Main home has hardwood floors, updated kitchen and bathroom, and in‑unit washer and dryer
