Fourplex with
New
For Sale
$428,000
312 Western Skies Drive SE, Albuquerque, NM 87123
ResidentialIncome, Albuquerque, NM
Property Size3,436 SF
Lot Size0.18 Acres
Price / SF$124.56
Days on Market7
Property Features for 312 Western Skies Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-ML*
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Patio
Exterior features
Patio
Appliances
Refrigerator, SelfCleaningOven
Subdivision
Dorado Skies Subdivision
Directions
From I40 and Tramway head west on Central. Turn South to Western Skies and property is on the left, corner of Western Skies and Dunes Rd.
Standard status
Active
APN
102205619130510539
Size
3,436 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3249
Utilities
Heating system
Forced Air, Central
Building Details
Year built
1979
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Tile, Carpet
Building materials
Stucco
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(505) 898-2700
Listed By:
Sarah M Hill · License #REC20230722
(505) 259-4933
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 23 at 12:06AM
MLS# 1112676
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.
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Investment Insights
Based on property information with market context.
This 3,436-square-foot fourplex contains four leased units on a 0.18-acre lot. The property was built in 1979 and has stucco exterior construction, carpet, vinyl, and tile flooring, and central forced-air heating. Each unit contributes to the existing rental operation, with lease terms running into 2027.
A patio is among the exterior features. Recent capital updates include a roof replacement less than two years ago and swamp coolers replaced within the last five years. The property is located in Albuquerque, with access to I-40, shopping, dining, and everyday amenities.
A patio is among the exterior features. Recent capital updates include a roof replacement less than two years ago and swamp coolers replaced within the last five years. The property is located in Albuquerque, with access to I-40, shopping, dining, and everyday amenities.
Key Highlights
- Four‑unit property with all residences leased; lease expirations extend into 2027
- 3,436 square feet on a 0.18‑acre lot
- 1979 construction with stucco exterior
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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 agreements 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‑unit property with all residences leased; lease expirations extend into 2027; 3,436 square feet on a 0.18‑acre lot; 1979 construction with stucco exterior
