Modernized Four-Unit
For Sale
$522,500
2810 Vail Avenue SE, Albuquerque, NM 87106
MULTI_FAMILY - Albuquerque, NM
Property Size3,100 SF
Lot Size0.17 Acres
Price / SF$168.55
Days on Market9
Property Features for 2810 Vail Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-ML*
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 3
Parking
6
Exterior features
Landscaping
Appliances
Refrigerator
Subdivision
Land Contrend Ltd
Directions
From I-25 and Gibson - west to Girard, north to Vail/Girard, west to property.
Standard status
Active
APN
101605624910530204
Size
3,100 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Tr A-2-A Of Summary Plat Of A Portion Of Tr A-2 Of Land Of C Ontrends Ltd.
Tax Annual Amount
5643
Legal Description
Tr A-2-A Of Summary Plat Of A Portion Of Tr A-2 Of Land Of C Ontrends Ltd.
Utilities
Heating system
Forced Air, Central
Amenities
private patio/balcony
washer/dryer hookups
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Jul 30
Changed: Aug 5
Last Checked: Aug 7 at 2:06AM
MLS# 1108204
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 3,100-square-foot quadplex contains four two-bedroom, one-bath apartments on a 0.17-acre parcel. Built in 1984, the property features updated mechanical systems, contemporary lighting, solid-surface flooring, and spacious kitchens with bar seating. Each residence has a private patio or balcony, washer and dryer connections, and separate gas and electric metering. Refrigerators are included, and the building combines frame construction with stucco exterior finishes.
A newer TPO roof carries a transferable warranty, while recent evaporative cooler updates support the building’s mechanical infrastructure. The property sits across from Puerta del Sol Golf Course, with mountain views extending over the course. UNM, CNM, Presbyterian Hospital, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are identified in the surrounding area.
A newer TPO roof carries a transferable warranty, while recent evaporative cooler updates support the building’s mechanical infrastructure. The property sits across from Puerta del Sol Golf Course, with mountain views extending over the course. UNM, CNM, Presbyterian Hospital, Kirtland Air Force Base, Albuquerque International Sunport, and I-25 are identified in the surrounding area.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments
- 3,100 SF building on a 0.17‑acre parcel
- Separate gas and electric meters for each 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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
598
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 include private outdoor space and laundry hookups.
Where is this quadplex located?
The property is located at 2810 Vail Avenue 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; 3,100 SF building on a 0.17‑acre parcel; Separate gas and electric meters for each unit
