Triplex With Two
For Sale
$1,249,000
24 Matisse Rd, Albuquerque, NM 87123
Multi-structure residential property with separate entries, private driveways, courtyards, and A-2 zoning across an expansive acreage setting.
Property Size8,134 SF
Price / SF$153.55
Days on Market340
Property Features for 24 Matisse Rd
General Information
Standard status
Active
Size
8,134 SF
Property subtype
Multifamily
Zoning
A-2
Amenities
Power
Water
Sewer
Building Details
Year Built
1946
Listing Agency:
Keller Williams Realty - Riverside
Listed By:
Anne Vallejos · License #41997
(505) 331-8306
Source:
Carnm.resimplifi
Added: Nov 9, 2025
Changed: Oct 6
Last Checked: Oct 14 at 7:48PM
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 Keller Williams Realty - Riverside
Investment Insights
Based on property information with market context.
This occupied triplex includes a main residence and two casitas, each offering a separate entry, private driveway, and courtyard. The property contains 7 beds and 6 baths across 8,134 square feet on 10.7 acres. Original kitchen cabinetry, classic bath fixtures, rock fireplaces, wrought-iron porches, built-in BBQ pits, masonry, flagstone, adobe, brick, saltillo flooring, and open wood ceilings retain the property's historic character. A koi pond, privacy fencing, shade trees, and extensive hardscape add distinct outdoor features.
The property offers Sandia views and access to National Forest hiking, while remaining minutes from the I-40 Tramway/Central exit. It is zoned A-2 and is occupied, with showings requiring advance scheduling. Residential financing approval is available for a buyer who qualifies.
The property offers Sandia views and access to National Forest hiking, while remaining minutes from the I-40 Tramway/Central exit. It is zoned A-2 and is occupied, with showings requiring advance scheduling. Residential financing approval is available for a buyer who qualifies.
Key Highlights
- Main residence plus 2 casitas, each with a separate entry, private driveway, and courtyard
- 8,134 sq ft property with 7 beds and 6 baths
- 10.7 acres with Sandia views and National Forest hiking access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,253
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,485,060
$1.5M
Cap Rate 7%
$1,060,757
$1.1M
Cap Rate 9%
$825,033
$825.0K
Market Conditions
NOI Build-Up for 8,134 SF
Gross rent
$112.2K $13.80/SF
− Vacancy
−$6.2K −$0.76/SF
EGI
$106.1K $13.04/SF
− OpEx
−$31.8K −$3.91/SF
NOI
$74.3K $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%
$1,485,060
Cap Rate 7%
$1,060,757
Cap Rate 9%
$825,033
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.2K – $1.24M
NOI $74,253 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$981.5K
$858.8K – $1.15M
NOI $68,705 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,744 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
31
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
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Frequently Asked Questions
What type of property is this?
Triplex - Multi-structure residential property with separate entries, private driveways, courtyards, and A-2 zoning across an expansive acreage setting.
Where is this triplex located?
The property is located at 24 Matisse Rd Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Main residence plus 2 casitas, each with a separate entry, private driveway, and courtyard; 8,134 sq ft property with 7 beds and 6 baths; 10.7 acres with Sandia views and National Forest hiking access
