Two-Building Apartment
For Sale
$800,000
401 & 405 Indiana St SE, Albuquerque, NM 87108
Eight residences feature two-bedroom layouts, full kitchens, and dedicated laundry hookups within each unit.
Property Size6,400 SF
Price / SF$125
Days on Market29
Property Features for 401 & 405 Indiana St SE
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Amenities
in-unit laundry hookups
Building Details
Year Built
1963
Buildings
2
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 9
Changed: Oct 6
Last Checked: Oct 5 at 6:51PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 6,400-square-foot apartment property comprises two side-by-side buildings with eight total residences. Each 800-square-foot unit includes two bedrooms, one bathroom, a full kitchen, living area, and dedicated in-unit laundry hookups. The layouts provide distinct living, cooking, and laundry areas within every residence.
Built in 1963, the property is located at 401 & 405 Indiana St SE in Albuquerque, New Mexico. The two-building configuration and consistent unit layout create a straightforward multifamily asset with eight separately designed residences.
Built in 1963, the property is located at 401 & 405 Indiana St SE in Albuquerque, New Mexico. The two-building configuration and consistent unit layout create a straightforward multifamily asset with eight separately designed residences.
Key Highlights
- Two side‑by‑side apartment buildings with 8 total units
- Each residence measures 800 square feet
- All units offer 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,059
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,180
$1.1M
Cap Rate 7%
$772,271
$772.3K
Cap Rate 9%
$600,656
$600.7K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$103.7K $16.20/SF
− Vacancy
−$5.4K −$0.84/SF
EGI
$98.3K $15.36/SF
− OpEx
−$44.2K −$6.91/SF
NOI
$54.1K $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%
$1,081,180
Cap Rate 7%
$772,271
Cap Rate 9%
$600,656
Alternative Uses
Best Use
Apartment 5plus
$772.3K
$675.7K – $901.0K
NOI $54,059 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,380 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
945
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight residences feature two-bedroom layouts, full kitchens, and dedicated laundry hookups within each unit.
Where is this apartment building located?
The property is located at 401 & 405 Indiana St SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two side‑by‑side apartment buildings with 8 total units; Each residence measures 800 square feet; All units offer 2 bedrooms and 1 bathroom
