Separately Metered
New
For Sale
$300,000
216 57th St NW, Albuquerque, NM 87105
Gas and electric service are metered separately for the three residential units.
Property Size2,276 SF
Price / SF$131.81
Days on Market4
Property Features for 216 57th St NW
General Information
Standard status
Active
Size
2,276 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Unit C is incomplete due to sewer line replacement
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1946
Year Renovated
2023
Buildings
1
Listing Agency:
Double Eagle Real Estate
(505) 883-1414
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:22AM
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 Double Eagle Real Estate
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Investment Insights
Based on property information with market context.
This 2,276-square-foot triplex contains three units, all of which are vacant. The units were remodeled in 2023, although Unit C remains incomplete following sewer work. Gas and electricity are separately metered. The property was built in 1946 and is being sold as is.
A sewer line was replaced this summer. A second lot, already owned and included in the sale, conveys with the property.
A sewer line was replaced this summer. A second lot, already owned and included in the sale, conveys with the property.
Key Highlights
- Three vacant residential units
- 2,276 square feet; built in 1946
- Units remodeled in 2023; Unit C remains incomplete after sewer work
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,630
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,600
$412.6K
Cap Rate 7%
$294,714
$294.7K
Cap Rate 9%
$229,222
$229.2K
Market Conditions
NOI Build-Up for 2,276 SF
Gross rent
$31.4K $13.80/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$29.5K $12.95/SF
− OpEx
−$8.8K −$3.88/SF
NOI
$20.6K $9.06/SF
Area
ZIP 87105
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,600
Cap Rate 7%
$294,714
Cap Rate 9%
$229,222
Alternative Uses
Best Use
Multifamily LT 5
$294.7K
$257.9K – $343.8K
NOI $20,630 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$270.9K
$237.0K – $316.0K
NOI $18,961 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$496.6K
$434.5K – $579.4K
NOI $34,763 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
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?
Triplex - Gas and electric service are metered separately for the three residential units.
Where is this triplex located?
The property is located at 216 57th St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three vacant residential units; 2,276 square feet; built in 1946; Units remodeled in 2023; Unit C remains incomplete after sewer work
