Two-Home Multifamily
For Sale
$475,000
212 Sycamore Street NE, Albuquerque, NM 87106
Two detached residences are paired with a detached garage and recreational vehicle pad.
Property Size1,575 SF
Days on Market235
Property Features for 212 Sycamore Street NE
General Information
Standard status
Active
Size
1,575 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
Ductless
Built-In Gas Range
Microwave
Refrigerator
Washer
Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building Details
Building Size
1,575 SF
Year Built
1943
Buildings
3
Listing Agency:
Keller Williams Realty - Albuquerque
Listed By:
Kevin Valles · License #47444
(505) 264-6518
Source:
Kw
Added: Feb 24
Changed: Oct 16
Last Checked: Oct 16 at 8:06AM
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 Keller Williams Realty - Albuquerque
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Investment Insights
Based on property information with market context.
This multifamily property comprises two detached residences and a separate three-car garage with an RV pad. One home measures 886 square feet and offers two bedrooms and one bathroom; the second contains 689 square feet with one bedroom and one bathroom. Both residences have been remodeled and include ductless mini-split systems for heating and refrigerated air. Interior features include built-in gas ranges, microwaves, refrigerators, and washers.
The property is located at 212 Sycamore Street NE in Albuquerque, near historic downtown and in close proximity to the University of New Mexico, Presbyterian Hospital, and UNM Hospital. The detached garage includes water and sewer stub-outs, while the property has connected electricity, natural gas, water, sewer, and available cable service.
The property is located at 212 Sycamore Street NE in Albuquerque, near historic downtown and in close proximity to the University of New Mexico, Presbyterian Hospital, and UNM Hospital. The detached garage includes water and sewer stub-outs, while the property has connected electricity, natural gas, water, sewer, and available cable service.
Key Highlights
- Two detached homes: 886 SF with 2 bedrooms and 1 bathroom, plus 689 SF with 1 bedroom and 1 bathroom
- Detached 3‑car garage with RV pad
- Both residences remodeled and equipped with ductless mini‑split heating and refrigerated air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,304
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,080
$266.1K
Cap Rate 7%
$190,057
$190.1K
Cap Rate 9%
$147,822
$147.8K
Market Conditions
NOI Build-Up for 1,575 SF
Gross rent
$25.5K $16.20/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$24.2K $15.36/SF
− OpEx
−$10.9K −$6.91/SF
NOI
$13.3K $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%
$266,080
Cap Rate 7%
$190,057
Cap Rate 9%
$147,822
Alternative Uses
Best Use
Apartment 5plus
$190.1K
$166.3K – $221.7K
NOI $13,304 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,730
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
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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?
Multifamily property - Two detached residences are paired with a detached garage and recreational vehicle pad.
Where is this multifamily property located?
The property is located at 212 Sycamore Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two detached homes: 886 SF with 2 bedrooms and 1 bathroom, plus 689 SF with 1 bedroom and 1 bathroom; Detached 3‑car garage with RV pad; Both residences remodeled and equipped with ductless mini‑split heating and refrigerated air
