Triplex with Private
New
For Sale
$675,000
401 Aliso Drive NE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size2,537 SF
Lot Size0.16 Acres
Price / SF$266.06
Days on Market2
Property Features for 401 Aliso Drive NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-1B*
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 6
Parking
3
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Patio
Appliances
Dryer, FreeStandingElectricRange, Refrigerator, Washer
Subdivision
UNM Nob Hill
Directions
From Monte Vista go East on Marquette to the Corner of Aliso or South on Aliso from Lomas
Standard status
Active
APN
101705709040121801
Size
2,537 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3787
Utilities
Cooling system
Ceiling Fan(s)
Amenities
washer & dryers in all units
front porch with flower baskets
private patios
2 garages
off street parking
Building Details
Year built
1940
Floors in Building
1
Number of units
3
Flooring type
Wood, Tile
Building materials
Block, Stucco
Listing Agency:
RE/MAX SELECT · RE/MAX International
(505) 265-5111
Listed By:
Lisa Parker · License #30211
(505) 220-7068
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 11:06PM
MLS# 1110232
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex at 401 Aliso Drive NE contains three two-bedroom, one-bath units within 2,537 square feet. The 1940 property includes wood and tile flooring, open-style kitchens, ceiling fans, private patios, and a TPO roof. Washers, dryers, refrigerators, and freestanding electric ranges are provided in the units, with block and stucco construction throughout.
The property occupies 0.16 acres in Albuquerque’s Nob Hill area, near UNM, the ART system, restaurants, and shopping. Two garages and additional off-street parking support the residential configuration. Existing occupants hold month-to-month leases, and each unit has its own patio access.
The property occupies 0.16 acres in Albuquerque’s Nob Hill area, near UNM, the ART system, restaurants, and shopping. Two garages and additional off-street parking support the residential configuration. Existing occupants hold month-to-month leases, and each unit has its own patio access.
Key Highlights
- Three two‑bedroom, one‑bath units in a 2,537‑square‑foot triplex
- Built in 1940 on a 0.16‑acre lot
- Private patios, two garages, and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,160
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,475
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature updated kitchens, wood flooring, and dedicated off-street parking.
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: Three two‑bedroom, one‑bath units in a 2,537‑square‑foot triplex; Built in 1940 on a 0.16‑acre lot; Private patios, two garages, and off‑street parking
