8-Unit Multifamily
For Sale
$850,000
414 Pine St SE, Albuquerque, NM 87106
Two separate residential buildings share one lot, with off-street parking and a varied apartment mix.
Property Size6,490 SF
Price / SF$130.97
Days on Market9
Property Features for 414 Pine St SE
General Information
Standard status
Active
Size
6,490 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x large 1BR/1BA, 1 x 2BR/1BA, 5 x oversized studios
Multifamily Units
8
Building Details
Year Built
1948
Buildings
2
Listing Agency:
Goff Real Estate Inc.
(505) 944-5131
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 29
Changed: Oct 7
Last Checked: Oct 7 at 12:23PM
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 Goff Real Estate Inc.
Investment Insights
Based on property information with market context.
This 8-unit multifamily property consists of two separate 4-unit buildings on one lot. The unit mix includes two large 1BR/1BA apartments, one 2BR/1BA apartment, and five oversized studios. The property contains 6,490 square feet and was built in 1948. Off-street parking serves the buildings.
The property is in Albuquerque, near the University of New Mexico, Central New Mexico Community College, and hospitals.
The property is in Albuquerque, near the University of New Mexico, Central New Mexico Community College, and hospitals.
Key Highlights
- Eight apartments across two separate 4‑unit buildings on one lot
- Unit mix: two 1BR/1BA, one 2BR/1BA, and five oversized studios
- 6,490 square feet; built in 1948
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,245
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,900
$1.2M
Cap Rate 7%
$846,357
$846.4K
Cap Rate 9%
$658,278
$658.3K
Market Conditions
NOI Build-Up for 6,490 SF
Gross rent
$89.6K $13.80/SF
− Vacancy
−$4.9K −$0.76/SF
EGI
$84.6K $13.04/SF
− OpEx
−$25.4K −$3.91/SF
NOI
$59.2K $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%
$1,184,900
Cap Rate 7%
$846,357
Cap Rate 9%
$658,278
Alternative Uses
Best Use
Multifamily LT 5
$846.4K
$740.6K – $987.4K
NOI $59,245 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$783.1K
$685.2K – $913.7K
NOI $54,819 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 12.93%
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
2,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Two separate residential buildings share one lot, with off-street parking and a varied apartment mix.
Where is this quadplex located?
The property is located at 414 Pine St SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Eight apartments across two separate 4‑unit buildings on one lot; Unit mix: two 1BR/1BA, one 2BR/1BA, and five oversized studios; 6,490 square feet; built in 1948
