Apartment Building With
For Sale
$450,000
2104 Lead Avenue SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size2,670 SF
Lot Size0.16 Acres
Price / SF$168.54
Days on Market141
Property Features for 2104 Lead Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-T*
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bathroom 2
Appliances
Refrigerator
Subdivision
Buena Vista Heights Add
Directions
From I-25 and Coal east to Yale, north to Lead, west to property.
Standard status
Active
APN
101505747717341720
Size
2,670 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 2 Block 4 Buena Vista Heights Addn
Tax Annual Amount
1941
Legal Description
Lot 2 Block 4 Buena Vista Heights Addn
Utilities
Cooling system
Ductless
Building Details
Year built
1936
Floors in Building
3
Number of units
8
Flooring type
Carpet, Vinyl
Building materials
Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: May 29
Changed: Oct 15
Last Checked: Oct 16 at 4:06PM
MLS# 1104393
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 eight-unit apartment property combines six studio apartments in a three-story building with two one-bedroom units arranged in a single-story duplex. The improvements date to 1936 and include frame and stucco construction, carpet and vinyl flooring, ductless cooling, and refrigerators. Energy-efficiency updates have been completed for resident comfort, and parking is positioned beside the unit entrances.
The property at 2104 Lead Avenue SE is near the University of New Mexico, Central New Mexico Community College, Presbyterian Hospital, Nob Hill, and Roosevelt Park. Additional nearby conveniences include Smith's grocery store, restaurants, cafes, microbreweries, and local retail. Access is available from Lead Avenue, with a southern alley serving the compound.
The property at 2104 Lead Avenue SE is near the University of New Mexico, Central New Mexico Community College, Presbyterian Hospital, Nob Hill, and Roosevelt Park. Additional nearby conveniences include Smith's grocery store, restaurants, cafes, microbreweries, and local retail. Access is available from Lead Avenue, with a southern alley serving the compound.
Key Highlights
- Eight‑unit apartment property with six studios and two one‑bedroom apartments
- Six studios are located in a 3 story building; two one‑bedroom units are in a single‑story duplex
- Property size: 2670 Square Feet on 0.16 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,553
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,060
$451.1K
Cap Rate 7%
$322,186
$322.2K
Cap Rate 9%
$250,589
$250.6K
Market Conditions
NOI Build-Up for 2,670 SF
Gross rent
$43.3K $16.20/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$41.0K $15.36/SF
− OpEx
−$18.5K −$6.91/SF
NOI
$22.6K $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 Rate 5%
$451,060
Cap Rate 7%
$322,186
Cap Rate 9%
$250,589
Alternative Uses
Best Use
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,553 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.9K
$565.2K – $753.6K
NOI $45,215 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Check the figures for this property
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?
Apartment building - Eight-unit community with varied apartment layouts, on-site parking, and energy-efficiency updates near university and medical destinations.
Where is this apartment building located?
The property is located at 2104 Lead Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Eight‑unit apartment property with six studios and two one‑bedroom apartments; Six studios are located in a 3 story building; two one‑bedroom units are in a single‑story duplex; Property size: 2670 Square Feet on 0.16 acres
