Four-Unit Multifamily
New
For Sale
$529,000
3509 Tulane Dr NE, Albuquerque, NM 87107
All four residences include in-unit laundry and refrigerated air with furnace systems.
Property Size3,240 SF
Price / SF$163.27
Days on Market7
Property Features for 3509 Tulane Dr NE
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Nec
Additional Details
Multifamily Units
4
Building Details
Year Built
1979
Listing Agency:
New Mexico Realty Advisors
Listed By:
Juan Diego Chavez · License #51051
(505) 615-0202
Source:
Myabqhomesearch
Added: Oct 24
Changed: Oct 30
Last Checked: Oct 30 at 3:24PM
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 New Mexico Realty Advisors
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Investment Insights
Based on property information with market context.
This Albuquerque fourplex contains 3,240 square feet across four residences. Each unit has its own washer and dryer, plus a combination refrigerated-air and furnace system installed approximately five years ago. The property was built in 1979 and is located at 3509 Tulane Dr NE.
Qualified owner-occupants may be eligible to pursue FHA financing, subject to lender approval, property eligibility, and the program’s fourplex self-sufficiency requirements.
Qualified owner-occupants may be eligible to pursue FHA financing, subject to lender approval, property eligibility, and the program’s fourplex self-sufficiency requirements.
Key Highlights
- Four‑unit property totaling 3,240 square feet
- In‑unit washer and dryer in each residence
- Refrigerated‑air and furnace systems installed approximately five years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,577
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,540
$591.5K
Cap Rate 7%
$422,529
$422.5K
Cap Rate 9%
$328,633
$328.6K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$44.7K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.3K $13.04/SF
− OpEx
−$12.7K −$3.91/SF
NOI
$29.6K $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 Rate 5%
$591,540
Cap Rate 7%
$422,529
Cap Rate 9%
$328,633
Alternative Uses
Best Use
Multifamily LT 5
$422.5K
$369.7K – $493.0K
NOI $29,577 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$391.0K
$342.1K – $456.1K
NOI $27,367 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$783.8K
$685.8K – $914.5K
NOI $54,867 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,335
Businesses Nearby
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Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
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 - All four residences include in-unit laundry and refrigerated air with furnace systems.
Where is this quadplex located?
The property is located at 3509 Tulane Dr NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Four‑unit property totaling 3,240 square feet; In‑unit washer and dryer in each residence; Refrigerated‑air and furnace systems installed approximately five years ago
