Four-Unit Multifamily
For Sale
Contact for pricing
217 General Stilwell NE, Albuquerque, NM 87123
Four-unit residential income property with multifamily high-density zoning in Albuquerque’s Northeast Heights.
Property Size3,480 SF
Price / SF$122.17
Days on Market11
Property Features for 217 General Stilwell NE
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Multifamily
Zoning
Multi-family High Density
Occupancy
50%
Investment Type
Stabilized
Net Operating Income
$30,059
Financials
Asking Price
$425,155
Cap Rate
7.28%
Gross Rent Multiplier
9.65
Average Monthly Rent
$918
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1975
Units
4
Tenancy
Multi
Listing Agency:
N.M. Apartments, Inc.
(505) 463-3565
Listed By:
Todd Clarke · License #13711
Source:
Crexi
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 1:34PM
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 3,480-square-foot fourplex contains four residential units and was built in 1975. The property is zoned Multi-family High Density and is positioned as a residential income asset within Albuquerque’s Northeast Heights. Its four-unit configuration offers a compact multifamily format at a single address.
The property is located near Kirtland Air Force Base and Sandia National Laboratories, two major employment centers identified in the property information. Central Avenue, Interstate 40, Uptown Albuquerque, shopping, restaurants, and public transportation are also described as nearby or accessible from the site.
Investment metrics provided for the property include a 7.28% cap rate and a 9.65 GRM. The address is 217 General Stilwell NE, Albuquerque, NM 87123.
The property is located near Kirtland Air Force Base and Sandia National Laboratories, two major employment centers identified in the property information. Central Avenue, Interstate 40, Uptown Albuquerque, shopping, restaurants, and public transportation are also described as nearby or accessible from the site.
Investment metrics provided for the property include a 7.28% cap rate and a 9.65 GRM. The address is 217 General Stilwell NE, Albuquerque, NM 87123.
Key Highlights
- Four‑unit multifamily property totaling 3,480 square feet
- Multi‑family High Density zoning
- Built in 1975
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
$31,768
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
7.47%
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%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 3,480 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
$48.0K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$45.4K $13.04/SF
− OpEx
−$13.6K −$3.91/SF
NOI
$31.8K $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%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.9K
NOI $29,394 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$841.9K
$736.7K – $982.2K
NOI $58,932 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
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-unit residential income property with multifamily high-density zoning in Albuquerque’s Northeast Heights.
Where is this quadplex located?
The property is located at 217 General Stilwell NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $425,155.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,480 square feet; Multi‑family High Density zoning; Built in 1975
