Spacious Updated Townhome-Style
3505-09 Lafayette NE Albuquerque, NM 87107
3505-09 Lafayette NE, Albuquerque, NM, 87107
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For Sale
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Seven updated townhome-style apartments in a convenient Albuquerque location.
Property Size9,100 SF
Price / SF$104.40
Days on Market57
Property Features for 3505-09 Lafayette NE
General Information
- Standard status
- Active
- Size
- 9,100 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1978
Listing Agency
N.M. Apartments, Inc.
(505) 440-8633
Listed by
Todd Clarke · License #13711
Source
Crexi
Added: May 22 Checked: Jul 14 at 5:04 am
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
This property features seven updated apartments in a convenient Albuquerque location. Each of the seven apartments are spacious, two-story, two-bedroom, one-and-a-half-bathroom townhome-style floor plans, each measuring 1,300 square feet. The apartments feature well-apportioned rooms, large, separate utility rooms with washer and dryer hookups or included washer and dryer, and large living areas with wood-burning stoves. The kitchens are updated and include dishwashers and electric ranges. Each apartment is separately metered for gas and electric and offers forced central heating. Four of the seven apartments have been converted to refrigerated air. The property is located next door to Lafayette Park & Playground and one block from Thunderbird Little League fields, with convenient access to I-25. The property is positioned to benefit from citywide expansion and new employment opportunities.
Key Highlights
- Spacious 1,300 SF two‑story, 2‑bedroom townhome‑style apartments.
- Excellent central Albuquerque location near Lafayette Park, Thunderbird Little League fields, and I‑25.
- All units feature updated kitchens with dishwashers and electric ranges, plus large utility rooms with washer/dryer hookups (or included washer/dryer).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.4k | $16.20 |
| − Vacancy | −$7.7k | −$0.84 |
| EGI | $139.8k | $15.36 |
| − OpEx | −$62.9k | −$6.91 |
| NOI | $76.9k | $8.45 |
9,100 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$960.8K – $1.28M
NOI $76,865 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,103 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven updated townhome-style apartments in a convenient Albuquerque location.
Where is this apartment building located?
The property is located at 3505-09 Lafayette NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Spacious 1,300 SF two‑story, 2‑bedroom townhome‑style apartments.; Excellent central Albuquerque location near Lafayette Park, Thunderbird Little League fields, and I‑25.; All units feature updated kitchens with dishwashers and electric ranges, plus large utility rooms with washer/dryer hookups (or included washer/dryer).
