Fourplex with Recent Roof
New
For Sale
$428,000
312 Western Skies Drive SE, Albuquerque, NM 87123
All four residences are leased, with lease terms extending into 2027.
Property Size3,436 SF
Price / SF$124.56
Days on Market5
Property Features for 312 Western Skies Drive SE
General Information
Standard status
Active
Size
3,436 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$40,140
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1979
Listing Agency:
Coldwell Banker Legacy
Listed By:
Sarah Hill · License #sarahill
(505) 259-4933
Source:
Sandisells
Added: Oct 19
Changed: Oct 20
Last Checked: Oct 20 at 5:41PM
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 Coldwell Banker Legacy
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Investment Insights
Based on property information with market context.
This 3,436-square-foot fourplex in Albuquerque contains four residential units and was built in 1979. All units are currently leased, with lease expirations extending into 2027, providing an established rental operation. The roof was replaced less than two years ago, and the swamp coolers were replaced within the last five years.
The property is at 312 Western Skies Drive SE, with access to I-40 and nearby shopping, dining, and everyday amenities.
The property is at 312 Western Skies Drive SE, with access to I-40 and nearby shopping, dining, and everyday amenities.
Key Highlights
- Four units, all currently leased
- Lease expirations extend into 2027
- 3,436 square feet; built in 1979
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,366
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,320
$627.3K
Cap Rate 7%
$448,086
$448.1K
Cap Rate 9%
$348,511
$348.5K
Market Conditions
NOI Build-Up for 3,436 SF
Gross rent
$47.4K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$44.8K $13.04/SF
− OpEx
−$13.4K −$3.91/SF
NOI
$31.4K $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%
$627,320
Cap Rate 7%
$448,086
Cap Rate 9%
$348,511
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,366 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$414.6K
$362.8K – $483.7K
NOI $29,023 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$831.2K
$727.3K – $969.8K
NOI $58,187 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
442
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
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are leased, with lease terms extending into 2027.
Where is this quadplex located?
The property is located at 312 Western Skies Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: Four units, all currently leased; Lease expirations extend into 2027; 3,436 square feet; built in 1979
