4-Unit Quadplex with
For Sale
$675,000
Pending
204 Monroe St Ne, Albuquerque, NM 87108
Four residences offer a two-bedroom/two one-bedroom mix, private yards, garages, and individual laundry.
Property Size3,108 SF
Days on Market8
Property Features for 204 Monroe St Ne
General Information
Standard status
Pending
Size
3,108 SF
Total Parking Spaces
8
Property subtype
Residential Income
Occupancy
75%
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,397
Amenities
original oak hardwood floors
granite countertops
refrigerated air
tankless water heater
individually metered gas & electric
washer & dryer in unit
private backyard
central courtyard with grass and seating
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
RE/MAX SELECT
(505) 265-5111
Listed By:
Jennifer L Wilson · License #33044
(505) 440-1256
Source:
Exprealty
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 21 at 1:58AM
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 RE/MAX SELECT
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Investment Insights
Based on property information with market context.
This 3,108-square-foot quadplex contains four residences: two one-bedroom units and two two-bedroom units. The property was formed from two duplexes built in 1950 and is now one replatted parcel. Interior features include oak flooring, granite counters, refrigerated air, tankless water heaters, and a washer and dryer in each unit. Gas and electric service are separately metered. Each residence also has a private backyard and garage, with two double carports providing additional parking. A landscaped central courtyard has lawn space and seating.
The property is in Albuquerque’s UNM North area, near UNM, Nob Hill, Uptown, retail, restaurants, and public transportation. Gated access is available from the alley. Three units have long-term tenants, while one two-bedroom residence is vacant.
The property is in Albuquerque’s UNM North area, near UNM, Nob Hill, Uptown, retail, restaurants, and public transportation. Gated access is available from the alley. Three units have long-term tenants, while one two-bedroom residence is vacant.
Key Highlights
- Four units: two 1‑bedroom and two 2‑bedroom residences
- 3,108 SF; built in 1950 as two duplexes and later replatted as one property
- Three units have long‑term tenants; one 2‑bedroom unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,372
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,440
$567.4K
Cap Rate 7%
$405,314
$405.3K
Cap Rate 9%
$315,244
$315.2K
Market Conditions
NOI Build-Up for 3,108 SF
Gross rent
$42.9K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.5K $13.04/SF
− OpEx
−$12.2K −$3.91/SF
NOI
$28.4K $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%
$567,440
Cap Rate 7%
$405,314
Cap Rate 9%
$315,244
Alternative Uses
Best Use
Multifamily LT 5
$405.3K
$354.7K – $472.9K
NOI $28,372 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$375.0K
$328.2K – $437.5K
NOI $26,252 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$751.9K
$657.9K – $877.2K
NOI $52,632 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,888
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer a two-bedroom/two one-bedroom mix, private yards, garages, and individual laundry.
Where is this quadplex located?
The property is located at 204 Monroe St Ne Albuquerque, NM.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four units: two 1‑bedroom and two 2‑bedroom residences; 3,108 SF; built in 1950 as two duplexes and later replatted as one property; Three units have long‑term tenants; one 2‑bedroom unit is vacant
