Updated Quadplex with Unit
For Sale
$349,900
209 Texas St NE, Albuquerque, NM 87108
Four residential units feature durable finishes, electric systems, and included kitchen appliances.
Property Size2,650 SF
Price / SF$132.04
Days on Market98
Property Features for 209 Texas St NE
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
stoves and refrigerators
washer hookups
Building Details
Year Built
1950
Listing Agency:
MORE Realty, Inc
Listed By:
Tahir Gauba
(505) 610-1893
Source:
Thesouthwestlife
Added: Jul 10
Changed: Sep 14
Last Checked: Oct 7 at 4:18PM
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
Investment Insights
Based on property information with market context.
Built in 1950, this 2,650-square-foot quadplex contains three two-bedroom, one-bath residences and one one-bedroom, one-bath residence. Recent property improvements include a newer roof with warranty coverage, updated fencing, and refreshed stucco surfaces. Each unit has electric systems, while stoves and refrigerators are provided throughout. Durable flooring replaces carpet across the interiors, and select residences include washer hookups.
The property is located at 209 Texas St NE in Albuquerque, New Mexico 87108. Its defined unit mix and apartment-level amenities provide a clear residential income configuration, with practical finishes and equipment incorporated into each residence.
The property is located at 209 Texas St NE in Albuquerque, New Mexico 87108. Its defined unit mix and apartment-level amenities provide a clear residential income configuration, with practical finishes and equipment incorporated into each residence.
Key Highlights
- Three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit
- 2,650 square feet on a property built in 1950
- Newer roof with warranty, newer fencing, and refreshed stucco surfaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,191
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,820
$483.8K
Cap Rate 7%
$345,586
$345.6K
Cap Rate 9%
$268,789
$268.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$36.6K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.6K $13.04/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$24.2K $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%
$483,820
Cap Rate 7%
$345,586
Cap Rate 9%
$268,789
Alternative Uses
Best Use
Multifamily LT 5
$345.6K
$302.4K – $403.2K
NOI $24,191 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$319.8K
$279.8K – $373.1K
NOI $22,384 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$641.1K
$561.0K – $747.9K
NOI $44,876 @ 7.0% cap · market cap 12.83%
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
749
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature durable finishes, electric systems, and included kitchen appliances.
Where is this quadplex located?
The property is located at 209 Texas St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit; 2,650 square feet on a property built in 1950; Newer roof with warranty, newer fencing, and refreshed stucco surfaces
