Four-Unit Multifamily
For Sale
$585,000
2128 Coal Ave SE, Albuquerque, NM 87106
Four-plex building with MX-L zoning in Albuquerque’s 87106 ZIP code.
Property Size2,620 SF
Price / SF$223.28
Days on Market516
Property Features for 2128 Coal Ave SE
General Information
Standard status
Active
Size
2,620 SF
Property subtype
Multifamily
Zoning
MX-L
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Listing Agency:
SVN / Walt Arnold Commercial Brokerage, Inc.
(505) 620-2259
Listed By:
Timothy Luten · License #2469
(505) 620-2259
Source:
Carnm.resimplifi
Added: Apr 1, 2025
Changed: Aug 27
Last Checked: Aug 28 at 6:51AM
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 SVN / Walt Arnold Commercial Brokerage, Inc.
Investment Insights
Based on property information with market context.
This four-plex building is located at 2128 Coal Ave SE in Albuquerque, New Mexico. The property carries MX-L zoning and is identified as a quadplex asset, providing an existing multifamily configuration for evaluation by buyers seeking residential income property.
The sale is tied to 2130 Coal Ave SE, with both properties required to close at the same time. The address is within ZIP code 87106. The listed property size is 2620, although the source does not specify the measurement unit.
The sale is tied to 2130 Coal Ave SE, with both properties required to close at the same time. The address is within ZIP code 87106. The listed property size is 2620, although the source does not specify the measurement unit.
Key Highlights
- Four‑plex building
- MX‑L zoning
- Located at 2128 Coal Ave SE, Albuquerque, NM 87106
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,917
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,340
$478.3K
Cap Rate 7%
$341,671
$341.7K
Cap Rate 9%
$265,744
$265.7K
Market Conditions
NOI Build-Up for 2,620 SF
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.
Gross rent
$36.2K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.2K $13.04/SF
− OpEx
−$10.3K −$3.91/SF
NOI
$23.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,340
Cap Rate 7%
$341,671
Cap Rate 9%
$265,744
Alternative Uses
Best Use
Multifamily LT 5
$341.7K
$299.0K – $398.6K
NOI $23,917 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$316.1K
$276.6K – $368.8K
NOI $22,130 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$633.8K
$554.6K – $739.5K
NOI $44,368 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,131
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-plex building with MX-L zoning in Albuquerque’s 87106 ZIP code.
Where is this quadplex located?
The property is located at 2128 Coal Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four‑plex building; MX‑L zoning; Located at 2128 Coal Ave SE, Albuquerque, NM 87106
