Albuquerque Multi-Family Home For
For Sale
$239,000
201 San Pablo Street NE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size1,230 SF
Lot Size0.16 Acres
Price / SF$194.31
Days on Market178
Property Features for 201 San Pablo Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-LT
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Interior features
CeilingFans
Appliances
FreeStandingGasRange, Refrigerator
Subdivision
Loma Verde
Directions
Louisiana South from Lomas to Dining, East on Domingo to San Pablo, South to house on the corner of San Pablo and Chico.
Standard status
Active
APN
101905715614131102
Size
1,230 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1582
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Building Details
Year built
1952
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Frame, Stucco
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Maria Guadalupe Sotelo-Robles · License #49658
(505) 304-8269
Added: Mar 3
Changed: Aug 19
Last Checked: Aug 28 at 12:06AM
MLS# 1099969
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.
Investment Insights
Based on property information with market context.
This multi-family home in Albuquerque, New Mexico, features three bedrooms and two bathrooms within 1,230 square feet of space. Situated on a 0.16-acre lot, the property includes two distinct living areas and a large, functional kitchen. The property is currently generating $1,800 per month under a flexible month-to-month agreement. A sought-after feature of this property is backyard access. The property is located in Bernalillo County, with a postal code of 87108.
Key Highlights
- 3‑bedroom, 2‑bath home with two distinct living areas and a large, functional kitchen
- Currently generating $1,800/month on a flexible month‑to‑month agreement
- Backyard access available
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,389
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$207,780
$207.8K
Cap Rate 7%
$148,414
$148.4K
Cap Rate 9%
$115,433
$115.4K
Market Conditions
NOI Build-Up for 1,230 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.9K $16.20/SF
− Vacancy
−$1.0K −$0.84/SF
EGI
$18.9K $15.36/SF
− OpEx
−$8.5K −$6.91/SF
NOI
$10.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$207,780
Cap Rate 7%
$148,414
Cap Rate 9%
$115,433
Alternative Uses
Best Use
Apartment 5plus
$148.4K
$129.9K – $173.2K
NOI $10,389 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.6K
$260.4K – $347.2K
NOI $20,829 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Versatile 3-bedroom home with backyard access, generating $1,800/month.
Where is this single family property located?
The property is located at 201 San Pablo Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath home with two distinct living areas and a large, functional kitchen; Currently generating $1,800/month on a flexible month‑to‑month agreement; Backyard access available
