Ranch-Style Home with
24 Matisse Road NE Albuquerque, NM 87123
24 Matisse Road NE, Albuquerque, NM, 87123
$1,249,000
For Sale
$1,249,000
MULTI_FAMILY - Albuquerque, NM
Property Size8,134 SF
Lot Size10.71 Acres
Price / SF$153.55
Days on Market250
Property Features for 24 Matisse Road NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 6
- Rooms
- Bathroom 4, Bathroom 5, Bathroom 6, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 6
- Patio and Porch features
- Patio
- Exterior features
- Landscaping, PropaneTankOwned, Patio
- Fireplace
- 1
- Appliances
- Dryer, FreeStandingGasRange, Washer
- Standard status
- Active
- APN
- 102505709901830105
- Size
- 8,134 SF
- Lot size
- 10.71 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5182
Utilities
- Utilities
- Propane
- Heating system
- Electric (Heating), Propane (Heating), Hot Water(Heating), Baseboard
- Cooling system
- Varies by Unit
Building Details
- Year built
- 1946
- Floors in Building
- 2
- Number of units
- 6
- Flooring type
- Tile, Brick, Wood, Carpet
- Building materials
- Frame, Concrete, Stone, Stucco
Listing Agency
Keller Williams Realty
(505) 897-1100
6240 Riverside Plaza NW #100, Albuquerque, NM
Listed by
Anne M Vallejos · License #41997
(505) 331-8306
Added: Nov 10, 2025 Checked: Jul 18 at 10:06 pm
MLS# 1094511
Listing URL
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 historic 1940 ranch-style home has 7 bedrooms and 6 bathrooms in approximately 8,134 square feet, plus two additional casitas. The main house is complemented by casitas that each have their own entry, private driveway access, and courtyards. Noted interior and exterior details include original kitchen cabinets, classic bathtubs and showers, and preserved flooring, along with rock fireplaces, wrought-iron porches, and built-in BBQ pits. The main floor includes a koi pond and privacy fencing, with shade trees further along the lower back area.
Set on about 10.7 acres, the property is described as part of a Tres Pistoles Canyon homestead setting among granite boulders, with historic visitor connections. The remarks also cite Sandia views and easy National Forest hiking access. While positioned to feel secluded, it is described as minutes from I-40’s Tramway/Central exit.
The layout—with a main residence and two casitas each operating with their own entry and private driveway—can support a range of residential income or multi-generational living setups that value separation and outdoor space. Financing is noted as available through residential financing approval for qualified buyers, subject to lender requirements.
Set on about 10.7 acres, the property is described as part of a Tres Pistoles Canyon homestead setting among granite boulders, with historic visitor connections. The remarks also cite Sandia views and easy National Forest hiking access. While positioned to feel secluded, it is described as minutes from I-40’s Tramway/Central exit.
The layout—with a main residence and two casitas each operating with their own entry and private driveway—can support a range of residential income or multi-generational living setups that value separation and outdoor space. Financing is noted as available through residential financing approval for qualified buyers, subject to lender requirements.
Key Highlights
- 1946 ranch‑style home on 10.7 acres with 7 bedrooms and 6 bathrooms
- 8,134 SF home includes the main house plus 2 casitas, each with its own entry
- 2 casitas have their own private driveway and courtyard areas
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.8k | $16.20 |
| − Vacancy | −$6.9k | −$0.84 |
| EGI | $124.9k | $15.36 |
| − OpEx | −$56.2k | −$6.91 |
| NOI | $68.7k | $8.45 |
8,134 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$981.5K
$858.8K – $1.15M
NOI $68,705 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Historic 1940 ranch with two casitas offers multiple private entries and courtyards on acreage with National Forest access.
Where is this single family property located?
The property is located at 24 Matisse Road NE 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: 1946 ranch‑style home on 10.7 acres with 7 bedrooms and 6 bathrooms; 8,134 SF home includes the main house plus 2 casitas, each with its own entry; 2 casitas have their own private driveway and courtyard areas
