Multifamily Property Requiring
For Sale
$255,000
336 Rhode Island St NE, Albuquerque, NM 87108
Existing improvements require extensive rehabilitation before occupancy or normal residential use.
Property Size2,375 SF
Price / SF$107.37
Days on Market57
Property Features for 336 Rhode Island St NE
General Information
Standard status
Active
Size
2,375 SF
Property subtype
Multi-Family
Building Details
Year Built
1957
Listing Agency:
Coldwell Banker Legacy
(505) 281-0000
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Aug 21
Changed: Oct 15
Last Checked: Oct 16 at 8:34AM
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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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 contains 2,375 square feet of improvements constructed in 1957. The building is in poor condition and has been identified by the city as substandard, with entry considered unsafe.
Major work is required throughout the property, including roof, plumbing, flooring, paint, and remediation of water damage. The sale is strictly as-is, and the seller will not complete repairs.
Major work is required throughout the property, including roof, plumbing, flooring, paint, and remediation of water damage. The sale is strictly as-is, and the seller will not complete repairs.
Key Highlights
- 2,375‑square‑foot multifamily property built in 1957
- City‑cited substandard condition with entry considered unsafe
- Extensive repairs needed to roof, plumbing, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,061
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,220
$401.2K
Cap Rate 7%
$286,586
$286.6K
Cap Rate 9%
$222,900
$222.9K
Market Conditions
NOI Build-Up for 2,375 SF
Gross rent
$38.5K $16.20/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$36.5K $15.36/SF
− OpEx
−$16.4K −$6.91/SF
NOI
$20.1K $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%
$401,220
Cap Rate 7%
$286,586
Cap Rate 9%
$222,900
Alternative Uses
Best Use
Apartment 5plus
$286.6K
$250.8K – $334.4K
NOI $20,061 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.6K
$502.7K – $670.3K
NOI $40,219 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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?
Multifamily property - Existing improvements require extensive rehabilitation before occupancy or normal residential use.
Where is this multifamily property located?
The property is located at 336 Rhode Island St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 2,375‑square‑foot multifamily property built in 1957; City‑cited substandard condition with entry considered unsafe; Extensive repairs needed to roof, plumbing, flooring, and paint
