Two-Building 8-Unit Apartment
For Sale
$1,030,000
309-313 Geraldine Loop SE, Rio Rancho, NM 87124
ResidentialIncome, Rio Rancho, NM
Property Size6,684 SF
Lot Size0.57 Acres
Price / SF$154.10
Days on Market96
Property Features for 309-313 Geraldine Loop SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Bedrooms
2
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 4, Bathroom 5, Bathroom 6, Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 7, Bathroom 1, Bathroom 8, Bedroom 2
Exterior features
Lighting
Appliances
Dishwasher, Refrigerator
Subdivision
Star Heights 2
Directions
From unser and 5th head West on 5th, Right on 18th St. Left on Geraldine.
Standard status
Active
APN
1011069267181
Size
6,684 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
3716
Utilities
Heating system
Central, Forced Air
Building Details
Year built
1980
Floors in Building
2
Number of units
8
Flooring type
Carpet
Building materials
Frame, Stucco
Listing Agency:
Absolute Real Estate
(505) 681-8578
Listed By:
Michael Schlichte · License #17987
(505) 318-6264
Added: Jul 8
Changed: Sep 12
Last Checked: Oct 11 at 6:06PM
MLS# 1107082
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 multifamily property comprises two separately parceled fourplex buildings with a combined 8 units and 6,684 square feet. Each residence includes two bedrooms and one bathroom. The units are occupied and include refrigerators and dishwashers, while carpet flooring, frame and stucco construction, lighting, and forced-air and central heating are part of the existing improvements. The buildings were constructed in 1980.
Located at 309-313 Geraldine Loop SE in Rio Rancho, New Mexico, the property occupies 0.57 acres in Sandoval County. The two-building configuration provides a clearly defined apartment asset across separate parcels, with all eight residences included together in the offering.
Located at 309-313 Geraldine Loop SE in Rio Rancho, New Mexico, the property occupies 0.57 acres in Sandoval County. The two-building configuration provides a clearly defined apartment asset across separate parcels, with all eight residences included together in the offering.
Key Highlights
- Two separately parceled fourplex buildings included together
- 8 units totaling 6,684 square feet
- Each unit offers 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,505
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,100
$1.1M
Cap Rate 7%
$792,929
$792.9K
Cap Rate 9%
$616,722
$616.7K
Market Conditions
NOI Build-Up for 6,684 SF
Gross rent
$108.3K $16.20/SF
− Vacancy
−$7.4K −$1.10/SF
EGI
$100.9K $15.10/SF
− OpEx
−$45.4K −$6.79/SF
NOI
$55.5K $8.30/SF
Area
Rio Rancho, NM
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,100
Cap Rate 7%
$792,929
Cap Rate 9%
$616,722
Alternative Uses
Best Use
Apartment 5plus
$792.9K
$693.8K – $925.1K
NOI $55,505 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,885 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Occupied two-bedroom residences feature one bathroom, carpeted floors, and central and forced-air heating.
Where is this apartment building located?
The property is located at 309-313 Geraldine Loop SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Two separately parceled fourplex buildings included together; 8 units totaling 6,684 square feet; Each unit offers 2 bedrooms and 1 bathroom
