Modernized Fourplex with Private
For Sale
$522,500
2810 Vail Ave Se, Albuquerque, NM 87106
Four two-bedroom apartments offer separate utility metering, laundry hookups, and updated interiors near major institutional and transportation hubs.
Property Size3,100 SF
Price / SF$168.55
Days on Market31
Property Features for 2810 Vail Ave Se
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,643
Amenities
private patio/balcony
washer/dryer hookups
Listing Agency:
NM Apartment Advisors, Inc.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Exprealty
Added: Jul 30
Changed: Aug 20
Last Checked: Aug 29 at 1:26PM
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 NM Apartment Advisors, Inc.
Investment Insights
Based on property information with market context.
Located at 2810 Vail Ave SE in Albuquerque, this fourplex contains four two-bedroom, one-bath apartments totaling 3,100 square feet. The residences have received ongoing updates, including contemporary lighting, solid-surface flooring, mechanical improvements, large kitchens with flexible bar areas, and private patios or balconies. Washer and dryer hookups are provided in each unit, while gas and electric service are separately metered.
The property is across from Puerta del Sol Golf Course, with mountain views extending over the course. Its South UNM Campus and Sunport-area setting places the building near UNM, CNM, Presbyterian Hospital, Kirtland Air Force Base, Albuquerque International Sunport, and I-25. Building improvements include a newer TPO roof with a transferable warranty and updated evaporative coolers.
Two additional properties at 1809 and 1815 Girard Blvd. SE are also offered for sale and are located next door.
The property is across from Puerta del Sol Golf Course, with mountain views extending over the course. Its South UNM Campus and Sunport-area setting places the building near UNM, CNM, Presbyterian Hospital, Kirtland Air Force Base, Albuquerque International Sunport, and I-25. Building improvements include a newer TPO roof with a transferable warranty and updated evaporative coolers.
Two additional properties at 1809 and 1815 Girard Blvd. SE are also offered for sale and are located next door.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments totaling 3,100 square feet
- Gas and electric utilities are separately metered for each apartment
- Private patio or balcony space and washer/dryer hookups in every unit
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
$28,299
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
5.42%
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%
$565,980
$566.0K
Cap Rate 7%
$404,271
$404.3K
Cap Rate 9%
$314,433
$314.4K
Market Conditions
NOI Build-Up for 3,100 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
$42.8K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.4K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $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 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%
$565,980
Cap Rate 7%
$404,271
Cap Rate 9%
$314,433
Alternative Uses
Best Use
Multifamily LT 5
$404.3K
$353.7K – $471.7K
NOI $28,299 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$374.1K
$327.3K – $436.4K
NOI $26,185 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$750.0K
$656.2K – $875.0K
NOI $52,497 @ 7.0% cap · market cap 10.05%
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
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
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 two-bedroom apartments offer separate utility metering, laundry hookups, and updated interiors near major institutional and transportation hubs.
Where is this quadplex located?
The property is located at 2810 Vail Ave Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $522,500.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath apartments totaling 3,100 square feet; Gas and electric utilities are separately metered for each apartment; Private patio or balcony space and washer/dryer hookups in every unit
