Well-Maintained Triplex with Private
For Sale
$345,000
2215 Hooper Road SW, Albuquerque, NM 87105
ResidentialIncome, Albuquerque, NM
Property Size2,483 SF
Lot Size0.16 Acres
Price / SF$138.94
Days on Market13
Property Features for 2215 Hooper Road SW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-1
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 2
Interior features
CeilingFans
Appliances
FreeStandingGasRange
Subdivision
Map 39 Survey Of Mrgcd
Directions
In Albquerque, take I-25Take exit 223 toward Avenida Cesar Chavez onto Avenida Cesar Chavez SE.Turn west onto Avenida Cesar Chavez SE. Go for 2.5 mi.Turn right onto Goff Blvd SW. Go for 0.4 mi.Turn left onto Five Points Rd SW. Go for 0.3 mi.Turn left onto Atrisco Dr SW. Go for 128 ft.Turn right onto Hooper Rd SW. Go for 262 ft.End at 2215 Hooper Rd SW (on the right)
Standard status
Active
APN
101205711702930507
Size
2,483 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
834
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1946
Floors in Building
1
Number of units
3
Flooring type
Carpet, Laminate
Building materials
Block, Stucco
Listing Agency:
The Sanchez Group Realty
(505) 384-3042
Listed By:
Brandon C Sanchez · License #20197
(505) 720-4332
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 27 at 12:06PM
MLS# 1111408
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.
Investment Insights
Based on property information with market context.
This triplex, built in 1946, contains three distinct residential units with private entrances and adaptable floor plans. Unit sizes are 515, 620, and 1,250 square feet, creating a varied configuration for residential occupancy. Interior details include ceiling fans, carpet and laminate flooring, and a freestanding gas range. The structure features block and stucco construction.
Set on a 0.16-acre lot in Albuquerque’s South Valley, the property is located at 2215 Hooper Road SW. The three-unit arrangement and separate access points provide a clearly defined multifamily layout. Tenant privacy is requested during property visits.
Set on a 0.16-acre lot in Albuquerque’s South Valley, the property is located at 2215 Hooper Road SW. The three-unit arrangement and separate access points provide a clearly defined multifamily layout. Tenant privacy is requested during property visits.
Key Highlights
- Three‑unit multifamily property with private entrances
- Unit sizes of 515, 620, and 1,250 square feet
- Situated on a 0.16‑acre lot
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
$22,506
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
6.52%
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%
$450,120
$450.1K
Cap Rate 7%
$321,514
$321.5K
Cap Rate 9%
$250,067
$250.1K
Market Conditions
NOI Build-Up for 2,483 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
$34.3K $13.80/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$32.2K $12.95/SF
− OpEx
−$9.6K −$3.88/SF
NOI
$22.5K $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 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%
$450,120
Cap Rate 7%
$321,514
Cap Rate 9%
$250,067
Alternative Uses
Best Use
Multifamily LT 5
$321.5K
$281.3K – $375.1K
NOI $22,506 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.8K
NOI $20,686 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$541.8K
$474.1K – $632.1K
NOI $37,924 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
284
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately accessed units offer flexible layouts in Albuquerque’s South Valley.
Where is this triplex located?
The property is located at 2215 Hooper Road SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three‑unit multifamily property with private entrances; Unit sizes of 515, 620, and 1,250 square feet; Situated on a 0.16‑acre lot
