Three-Residence Multifamily
For Sale
$535,150
313 McKnight Ave NE, Albuquerque, NM 87102
Three residences occupy one MX-L-zoned parcel, including a vacant rear house available for immediate owner occupancy.
Property Size2,773 SF
Price / SF$192.99
Days on Market270
Property Features for 313 McKnight Ave NE
General Information
Standard status
Active
Size
2,773 SF
Property subtype
Multifamily
Zoning
MX-L
Financials
Asking Price
$474,900
Cap Rate
6%
Gross Rent Multiplier
11.81
Average Monthly Rent
$1,117
Additional Details
Multifamily Units
3
Building Details
Year Built
1945
Buildings
3
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd Clarke · License #13711
(505) 440-8633
Source:
Carnm.resimplifi
Added: Jan 20
Changed: Oct 13
Last Checked: Oct 16 at 5:54AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property at 313 McKnight Ave NE includes three residences situated on one parcel with MX-L zoning. The property contains 2,773 square feet and dates to 1945, while the rear residence, identified as Unit B, was built in 2009. Unit B is vacant and available for immediate occupancy, providing an owner-occupant option within the existing configuration.
The property is positioned near multiple parks, retail establishments, and restaurants, with access by bicycle to Albuquerque’s hiking and biking trails, Old Town, the Downtown area, the Downtown medical cluster, and Starbucks. Santa Barbara/Martinez Town Park and its ball fields are less than 330 feet away. The ABQ Rail Trail project and Wells Park expansion are also identified in the surrounding area.
The property is positioned near multiple parks, retail establishments, and restaurants, with access by bicycle to Albuquerque’s hiking and biking trails, Old Town, the Downtown area, the Downtown medical cluster, and Starbucks. Santa Barbara/Martinez Town Park and its ball fields are less than 330 feet away. The ABQ Rail Trail project and Wells Park expansion are also identified in the surrounding area.
Key Highlights
- Three residences on one MX‑L‑zoned parcel
- 2,773‑square‑foot multifamily property
- Rear residence, Unit B, was built in 2009
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,423
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,460
$468.5K
Cap Rate 7%
$334,614
$334.6K
Cap Rate 9%
$260,256
$260.3K
Market Conditions
NOI Build-Up for 2,773 SF
Gross rent
$44.9K $16.20/SF
− Vacancy
−$2.3K −$0.84/SF
EGI
$42.6K $15.36/SF
− OpEx
−$19.2K −$6.91/SF
NOI
$23.4K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,460
Cap Rate 7%
$334,614
Cap Rate 9%
$260,256
Alternative Uses
Best Use
Apartment 5plus
$334.6K
$292.8K – $390.4K
NOI $23,423 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.8K
$587.0K – $782.7K
NOI $46,959 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three residences occupy one MX-L-zoned parcel, including a vacant rear house available for immediate owner occupancy.
Where is this multifamily property located?
The property is located at 313 McKnight Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,150.
What are key features of this property?
This property features: Three residences on one MX‑L‑zoned parcel; 2,773‑square‑foot multifamily property; Rear residence, Unit B, was built in 2009
