Updated 4-Unit
For Sale
$739,000
321 Wayne Road NW, Los Ranchos, NM 87114
ResidentialIncome, Los Ranchos, NM
Property Size3,000 SF
Lot Size0.57 Acres
Price / SF$246.33
Days on Market113
Property Features for 321 Wayne Road NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 1
Interior features
CeilingFans
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Englebrecht Subd
Directions
From Paseo del Norte and 2nd Street , Head South past El Pueblo to Wayne Road , Turn right and head west to property . property is on the north side of the street . Or 4th and Osuna , head north to Wayne Rd and turn right to property on left .No sign till Nov 24th.
Standard status
Active
APN
101506426303440303
Size
3,000 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
8380
Utilities
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s), Varies by Unit
Amenities
private front-yard area
on-site parking
Building Details
Year built
1960
Floors in Building
1
Number of units
4
Flooring type
Carpet
Building materials
Frame, Stucco
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
Steve L Soto · License #29767
(505) 263-4624
Added: Jul 3
Changed: Oct 16
Last Checked: Oct 23 at 12:06AM
MLS# 1107684
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 3,000-square-foot quadplex contains two one-bedroom residences and a duplex with two two-bedroom residences, creating four separate living spaces. Built in 1960, the property has updated units, with three furnished. Each residence includes a private front-yard area, while on-site parking serves the property. Improvements include frame and stucco construction, central and forced-air heating, ceiling fans, and kitchens equipped with freestanding electric ranges and refrigerators.
The property occupies approximately 0.57 acres near Los Ranchos in the North Valley. Electric service is separately metered for each unit, while water is shared. The address is 321 Wayne Road NW, Los Ranchos, NM 87114.
The property occupies approximately 0.57 acres near Los Ranchos in the North Valley. Electric service is separately metered for each unit, while water is shared. The address is 321 Wayne Road NW, Los Ranchos, NM 87114.
Key Highlights
- 3,000 square feet with four separate living spaces
- Unit mix includes two 1‑bedroom units and two 2‑bedroom units
- Approximately 0.57‑acre property near Los Ranchos in the North Valley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,005
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$37.8K $12.60/SF
− Vacancy
−$2.1K −$0.69/SF
EGI
$35.7K $11.91/SF
− OpEx
−$10.7K −$3.57/SF
NOI
$25.0K $8.33/SF
Area
ZIP 87114
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$327.0K
$286.2K – $381.6K
NOI $22,893 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$620.3K
$542.8K – $723.7K
NOI $43,423 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four distinct residences include private outdoor areas, separate electric meters, and on-site parking.
Where is this quadplex located?
The property is located at 321 Wayne Road NW Los Ranchos, NM.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 3,000 square feet with four separate living spaces; Unit mix includes two 1‑bedroom units and two 2‑bedroom units; Approximately 0.57‑acre property near Los Ranchos in the North Valley
