Single-Story
For Sale
$431,071
3403 Anderson Ave SE, Albuquerque, NM 87106
Courtyard-style residences feature private patios, practical layouts, and golf course proximity.
Property Size2,789 SF
Price / SF$154.56
Days on Market15
Property Features for 3403 Anderson Ave SE
General Information
Standard status
Active
Size
2,789 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1978
Stories
1
Listing Agency:
Platlabs, LLC
(303) 848-6215
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 13
Changed: Sep 26
Last Checked: Sep 26 at 7:19AM
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 Platlabs, LLC
Investment Insights
Based on property information with market context.
This single-story triplex contains 2,789 square feet across three two-bedroom, one-bath residences. Each unit follows a courtyard-style plan with a kitchen, dining area, living room, two bedrooms, storage, and a private backyard or patio. The property was built in 1978 and offers a low-rise residential configuration suited to multifamily ownership.
Located at 3403 Anderson Ave SE in Albuquerque, the property sits 100 feet from Puerta Del Sol golf course and includes views toward the course and surrounding open space. Its setting places the residences within the Ridgecrest area, near the South UNM and Sunport submarkets.
Located at 3403 Anderson Ave SE in Albuquerque, the property sits 100 feet from Puerta Del Sol golf course and includes views toward the course and surrounding open space. Its setting places the residences within the Ridgecrest area, near the South UNM and Sunport submarkets.
Key Highlights
- Three‑unit multifamily property with 2,789 square feet
- Each residence includes 2 bedrooms and 1 bathroom
- Single‑story courtyard‑style configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,460
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$509,200
$509.2K
Cap Rate 7%
$363,714
$363.7K
Cap Rate 9%
$282,889
$282.9K
Market Conditions
NOI Build-Up for 2,789 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.5K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$36.4K $13.04/SF
− OpEx
−$10.9K −$3.91/SF
NOI
$25.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$509,200
Cap Rate 7%
$363,714
Cap Rate 9%
$282,889
Alternative Uses
Best Use
Multifamily LT 5
$363.7K
$318.3K – $424.3K
NOI $25,460 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$336.5K
$294.5K – $392.6K
NOI $23,558 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$674.7K
$590.4K – $787.2K
NOI $47,230 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
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Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
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
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Frequently Asked Questions
What type of property is this?
Triplex - Courtyard-style residences feature private patios, practical layouts, and golf course proximity.
Where is this triplex located?
The property is located at 3403 Anderson Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $431,071.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,789 square feet; Each residence includes 2 bedrooms and 1 bathroom; Single‑story courtyard‑style configuration
