Three-Unit Apartment
For Sale
$315,000
411 Virginia Street Ne, Albuquerque, NM 87108
Income-producing residential property with a consistent three-unit layout and two-bedroom residences.
Property Size2,153 SF
Price / SF$146.31
Days on Market59
Property Features for 411 Virginia Street Ne
General Information
Standard status
Active
Size
2,153 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Lms
Taxes and HOA fees
Annual Taxes
$2,825
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Tyler M Pete · License #53270
(505) 264-3082
Source:
Exprealty
Added: Sep 5
Changed: Oct 26
Last Checked: Nov 1 at 6:32AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This 2,153-square-foot triplex contains three residential units, each configured with two bedrooms and one bathroom. Built in 1960, the property offers a straightforward multifamily layout with identical unit plans across the building.
Located at 411 Virginia St NE in Albuquerque, New Mexico, the asset is positioned for residential income use and provides three separate units within one building.
Located at 411 Virginia St NE in Albuquerque, New Mexico, the asset is positioned for residential income use and provides three separate units within one building.
Key Highlights
- Three‑unit multifamily property
- 2,153 square feet
- Three 2‑bedroom, 1‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,654
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,080
$393.1K
Cap Rate 7%
$280,771
$280.8K
Cap Rate 9%
$218,378
$218.4K
Market Conditions
NOI Build-Up for 2,153 SF
Gross rent
$29.7K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$28.1K $13.04/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$19.7K $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%
$393,080
Cap Rate 7%
$280,771
Cap Rate 9%
$218,378
Alternative Uses
Best Use
Multifamily LT 5
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,186 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$520.9K
$455.8K – $607.7K
NOI $36,460 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
704
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Income-producing residential property with a consistent three-unit layout and two-bedroom residences.
Where is this triplex located?
The property is located at 411 Virginia Street Ne Albuquerque, NM.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Three‑unit multifamily property; 2,153 square feet; Three 2‑bedroom, 1‑bath units
