Updated Triplex with
For Sale
$675,000
Pending
401 Aliso Drive NE, Albuquerque, NM 87108
Three two-bedroom units offer open kitchens, private patios, and off-street parking near UNM and Nob Hill.
Property Size2,537 SF
Days on Market52
Property Features for 401 Aliso Drive NE
General Information
Standard status
Pending
Size
2,537 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
hardwood floors
modernized open kitchens
washer & dryers
front porches
private patios
garages
off street parking
Building Details
Year Built
1940
Buildings
1
Listing Agency:
RE/MAX SELECT
Listed By:
Lisa Parker · License #lisap
(505) 220-7068
Source:
Sandisells
Added: Sep 2
Changed: Oct 3
Last Checked: Oct 19 at 4:06AM
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 RE/MAX SELECT
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Investment Insights
Based on property information with market context.
This 2,537-square-foot triplex contains three two-bedroom, one-bath residences. Interior features include hardwood flooring and updated open-kitchen layouts, while a TPO roof and recently added washers and dryers serve the property. Each unit also has a front porch and private patio, with two garages and additional off-street parking on site.
The property is located at 401 Aliso Drive NE in Albuquerque, near UNM, Nob Hill, and the ART system. Its walk score is 88. Existing occupants are long-term tenants on month-to-month leases, providing an established rental setup across the three units.
The property is located at 401 Aliso Drive NE in Albuquerque, near UNM, Nob Hill, and the ART system. Its walk score is 88. Existing occupants are long-term tenants on month-to-month leases, providing an established rental setup across the three units.
Key Highlights
- 2,537 SF triplex with three two‑bedroom, one‑bath units
- Hardwood floors and updated open‑kitchen layouts
- TPO roof and recent washers and dryers in all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,160
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,200
$463.2K
Cap Rate 7%
$330,857
$330.9K
Cap Rate 9%
$257,333
$257.3K
Market Conditions
NOI Build-Up for 2,537 SF
Gross rent
$35.0K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$33.1K $13.04/SF
− OpEx
−$9.9K −$3.91/SF
NOI
$23.2K $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%
$463,200
Cap Rate 7%
$330,857
Cap Rate 9%
$257,333
Alternative Uses
Best Use
Multifamily LT 5
$330.9K
$289.5K – $386.0K
NOI $23,160 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$306.1K
$267.9K – $357.2K
NOI $21,429 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$613.8K
$537.0K – $716.1K
NOI $42,963 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,378
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom units offer open kitchens, private patios, and off-street parking near UNM and Nob Hill.
Where is this triplex located?
The property is located at 401 Aliso Drive NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,537 SF triplex with three two‑bedroom, one‑bath units; Hardwood floors and updated open‑kitchen layouts; TPO roof and recent washers and dryers in all units
