Quadplex with Central
New
For Sale
$675,000
204 Monroe Street NE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size3,108 SF
Lot Size0.32 Acres
Price / SF$217.18
Days on Market3
Property Features for 204 Monroe Street NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-MH*
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
10
Security features
Security
Exterior features
Lighting
Appliances
Dryer, Dishwasher, FreeStandingGasRange, Microwave, Refrigerator, Washer
Subdivision
Reservoir Sub
Directions
East on Lomas from Washington. South on Monroe.Address is both 204 & 206 Monroe St NE
Standard status
Active
APN
101705741328110517
Size
3,108 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
5397
Utilities
Heating system
Central
Amenities
original oak hardwood floors
granite countertops
refrigerated air
tankless water heater
individually metered gas & electric
washer & dryer
private backyard
tree-shaded central courtyard with grass and seating
Building Details
Year built
1950
Floors in Building
1
Number of units
4
Flooring type
Wood, Tile
Listing Agency:
RE/MAX SELECT · RE/MAX International
(505) 265-5111
Listed By:
Jennifer L Wilson · License #33044
(505) 440-1256
Added: Oct 15
Changed: Oct 17
Last Checked: Oct 17 at 8:06PM
MLS# 1112645
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.
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Investment Insights
Based on property information with market context.
This 3,108-square-foot quadplex contains two one-bedroom residences and two two-bedroom residences on a 0.32-acre property. Built in 1950, the building features hardwood and tile flooring, granite countertops, refrigerated air, tankless water heaters, and individual gas and electric meters. Each residence has a washer and dryer, a private backyard, and a garage. A central courtyard with grass, mature shade trees, and seating serves as shared outdoor space. Additional parking is provided by two double carports, with gated access from the alley.
Three units have long-term tenants; the remaining two-bedroom residence is vacant. The property is near the University of New Mexico, Nob Hill, Uptown, shopping, restaurants, and public transportation.
Three units have long-term tenants; the remaining two-bedroom residence is vacant. The property is near the University of New Mexico, Nob Hill, Uptown, shopping, restaurants, and public transportation.
Key Highlights
- Four units: two 1‑bedroom and two 2‑bedroom residences
- 3,108 square feet on a 0.32‑acre property
- Built in 1950
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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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,888
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
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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 rental homes combine private outdoor areas, garages, and in-unit laundry with a shared landscaped courtyard.
Where is this quadplex located?
The property is located at 204 Monroe Street 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 square feet on a 0.32‑acre property; Built in 1950
