University Area Apartment
2104 Lead SE Albuquerque, NM 87106
2104 Lead SE, Albuquerque, NM, 87106
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For Sale
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Eight units mix studios and one-bedroom apartments with updates for energy efficiency and parking by each entry.
Property Size2,670 SF
Price / SF$232.17
Days on Market55
Property Features for 2104 Lead SE
General Information
- Standard status
- Active
- Size
- 2,670 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1936
Listing agency
N.M. Apartments, Inc.
(505) 440-8633
Listed by
Todd Clarke · License #13711
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 6:13AM
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
This university-area eightplex at 2104 Lead SE provides eight residential units configured as six studios in a three-story building and two one-bedroom apartments in a separate single-story duplex. The property was updated for energy efficiency and resident comfort. Tenant entries are supported by ample parking located right next to the unit entries, and the overall site offers fluid access from Lead along a clean, well-traveled alley to the south.
The community is described as being just blocks from the UNM and CNM campuses, with proximity to Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park. The area also includes nearby shopping and a range of dining and local retail options, including a Smith’s grocery store and multiple restaurants, cafes, and micro-breweries.
For buyers and investors, the unit mix supports multiple household types, combining studio-style space with two one-bedroom apartments within one cohesive property. Its location within walking distance of UNM and CNM can be a practical fit for operators looking to serve residents associated with the university market. The property is being offered for sale with a comprehensive materials package available through the listing firm, including floorplans, photos, and a virtual tour of a studio unit.
The community is described as being just blocks from the UNM and CNM campuses, with proximity to Presbyterian Hospital, I-25, Nob Hill, and Roosevelt Park. The area also includes nearby shopping and a range of dining and local retail options, including a Smith’s grocery store and multiple restaurants, cafes, and micro-breweries.
For buyers and investors, the unit mix supports multiple household types, combining studio-style space with two one-bedroom apartments within one cohesive property. Its location within walking distance of UNM and CNM can be a practical fit for operators looking to serve residents associated with the university market. The property is being offered for sale with a comprehensive materials package available through the listing firm, including floorplans, photos, and a virtual tour of a studio unit.
Key Highlights
- 2104 Lead SE 8‑plex built in 1936 with 6 studio units in a 3‑story building and 2 one‑bedroom units in a single‑story duplex
- On‑site parking is right next to unit entries, with access from Lead and a clean, well‑traveled alley to the south
- Property updates include energy‑efficiency upgrades for resident comfort
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.3k | $16.20 |
| − Vacancy | −$2.2k | −$0.84 |
| EGI | $41.0k | $15.36 |
| − OpEx | −$18.5k | −$6.91 |
| NOI | $22.6k | $8.45 |
2,670 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,553 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.9K
$565.2K – $753.6K
NOI $45,215 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight units mix studios and one-bedroom apartments with updates for energy efficiency and parking by each entry.
Where is this apartment building located?
The property is located at 2104 Lead SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $619,887.
What are key features of this property?
This property features: 2104 Lead SE 8‑plex built in 1936 with 6 studio units in a 3‑story building and 2 one‑bedroom units in a single‑story duplex; On‑site parking is right next to unit entries, with access from Lead and a clean, well‑traveled alley to the south; Property updates include energy‑efficiency upgrades for resident comfort
