Updated 2-Unit
For Sale
$295,000
3518 Eastern Ave SE, Albuquerque, NM 87106
Two one-bedroom residences offer open layouts, hardwood flooring, and access to a fully fenced backyard.
Property Size1,282 SF
Price / SF$230.11
Days on Market57
Property Features for 3518 Eastern Ave SE
General Information
Standard status
Active
Size
1,282 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
large fully fenced backyard
Building Details
Year Built
1953
Construction
pueblo-style
Listing Agency:
Lucky Dog Realty, LLC
Listed By:
Kelly R Taliaferro · License #18922
(505) 270-5552
Source:
Thesouthwestlife
Added: Aug 21
Changed: Sep 2
Last Checked: Oct 7 at 5:28PM
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 Lucky Dog Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1953, this 1,282-square-foot duplex contains two 1-bedroom, 1-bath units with open living and kitchen areas. Hardwood floors run through both residences, and each unit has access to a large, fully fenced backyard. One residence is occupied by a tenant, while the other has been freshly painted and is ready for lease or occupancy.
Recent improvements include 3-inch insulated stucco, a TPO roof, double-paned windows, tankless water heaters, and mini-split systems in both units. The property is located at 3518 Eastern Ave SE in Albuquerque, New Mexico.
Recent improvements include 3-inch insulated stucco, a TPO roof, double-paned windows, tankless water heaters, and mini-split systems in both units. The property is located at 3518 Eastern Ave SE in Albuquerque, New Mexico.
Key Highlights
- 1,282 SF duplex with two 1‑bedroom, 1‑bath units
- 3‑inch insulated stucco, TPO roof, and double‑paned windows
- Tankless water heaters and mini‑splits in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,703
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,060
$234.1K
Cap Rate 7%
$167,186
$167.2K
Cap Rate 9%
$130,033
$130.0K
Market Conditions
NOI Build-Up for 1,282 SF
Gross rent
$17.7K $13.80/SF
− Vacancy
−$973 −$0.76/SF
EGI
$16.7K $13.04/SF
− OpEx
−$5.0K −$3.91/SF
NOI
$11.7K $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%
$234,060
Cap Rate 7%
$167,186
Cap Rate 9%
$130,033
Alternative Uses
Best Use
Multifamily LT 5
$167.2K
$146.3K – $195.1K
NOI $11,703 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$154.7K
$135.4K – $180.5K
NOI $10,829 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$310.1K
$271.4K – $361.8K
NOI $21,710 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
349
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences offer open layouts, hardwood flooring, and access to a fully fenced backyard.
Where is this duplex located?
The property is located at 3518 Eastern Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,282 SF duplex with two 1‑bedroom, 1‑bath units; 3‑inch insulated stucco, TPO roof, and double‑paned windows; Tankless water heaters and mini‑splits in both units
