Four-Unit Quadplex with Updated
For Sale
$459,000
229 Hanosh Court SE 4, Albuquerque, NM 87123
Fully occupied residential income property with tiled interiors and a newer TPO roof.
Property Size2,540 SF
Price / SF$180.71
Days on Market28
Property Features for 229 Hanosh Court SE 4
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Quadruplex
Occupancy
100%
Site & Location
Neighborhood
Saw
Highway Access
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,635
Building Details
Building Size
2,540 SF
Year Built
1977
Listing Agency:
Double Eagle Real Estate
Listed By:
Christie L Humphrey · License #14252
(505) 414-0146
Source:
K2omnigroup
Added: Oct 3
Changed: Oct 26
Last Checked: Oct 26 at 3:52PM
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 four-unit quadplex contains four 2-bedroom, 1-bath apartments, each measuring 635 square feet. The interiors feature tile flooring, and the bathrooms have updated tile finishes. A newer TPO roof serves the building, which was built in 1977.
The property is fully rented and is located in Albuquerque, with freeway access and shopping nearby.
The property is fully rented and is located in Albuquerque, with freeway access and shopping nearby.
Key Highlights
- Four 635‑square‑foot apartments, each with 2 bedrooms and 1 bathroom
- Fully rented property
- Updated tiled bathrooms and tile flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,187
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,740
$463.7K
Cap Rate 7%
$331,243
$331.2K
Cap Rate 9%
$257,633
$257.6K
Market Conditions
NOI Build-Up for 2,540 SF
Gross rent
$35.1K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$33.1K $13.04/SF
− OpEx
−$9.9K −$3.91/SF
NOI
$23.2K $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 Rate 5%
$463,740
Cap Rate 7%
$331,243
Cap Rate 9%
$257,633
Alternative Uses
Best Use
Multifamily LT 5
$331.2K
$289.8K – $386.5K
NOI $23,187 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$306.5K
$268.2K – $357.6K
NOI $21,455 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$614.5K
$537.7K – $716.9K
NOI $43,013 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
466
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential income property with tiled interiors and a newer TPO roof.
Where is this quadplex located?
The property is located at 229 Hanosh Court SE 4 Albuquerque, NM.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Four 635‑square‑foot apartments, each with 2 bedrooms and 1 bathroom; Fully rented property; Updated tiled bathrooms and tile flooring throughout
