Two-Building Apartment
401 & 405 Indiana St SE, Albuquerque, NM 87108
For Sale
$800,000
Eight residences feature two-bedroom layouts, full kitchens, and dedicated laundry hookups within each unit.
Property Size6,400 SF
Price / SF$125
Days on Market66
Property Features for 401 & 405 Indiana St SE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry hookups
Building Details
Year Built
Buildings
Listing Agency:
Blue Lynx Realty
(505) 228-0672
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 9
Changed: Nov 12
Last Checked: Nov 12 at 7:28AM
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 Blue Lynx Realty
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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.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
945
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
$227,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Albuquerque, NM
Properties on Market for Apartment buildings in Albuquerque
Vacancy Rate% for Multifamily in West region
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
