Tenant-Occupied
For Sale
$499,000
425 Fitzgerald Road NW, Albuquerque, NM 87107
MULTI_FAMILY - Albuquerque, NM
Property Size1,898 SF
Lot Size0.20 Acres
Price / SF$262.91
Days on Market389
Property Features for 425 Fitzgerald Road NW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
MX-M*
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Subdivision
Of Fitzgerald Add
Directions
South on 4th from Candelaria *West on Fitzgerald to 425*
Standard status
Active
APN
101406032410740709
Size
1,898 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
4001
Building Details
Year built
1940
Floors in Building
1
Number of units
3
Flooring type
Wood
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Anton F Determan · License #53934
(505) 818-9449
Added: Jul 20, 2025
Changed: Aug 2
Last Checked: Aug 12 at 8:06AM
MLS# 1107630
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 tenant-occupied triplex at 425 Fitzgerald Road NW combines a single-family home and a duplex to create three separate living units. The single-family home offers 700 sq. ft., and the duplex includes two 599 sq. ft. units for a combined 1,899 sq. ft. of living space. The property is currently delivering a 7% cap rate. Each unit has been fully updated, supporting easier day-to-day operations and appeal for future residents. Wood flooring is listed for the property.
The property sits on a 0.2-acre lot and was built in 1940. The unit mix includes multiple bedrooms and bathrooms across the three units, with rooms listed for Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, and Bedroom 3.
As a residential income asset with current occupancy and recent updates throughout the units, the property is positioned for investors looking for immediate in-place cash flow.
The property sits on a 0.2-acre lot and was built in 1940. The unit mix includes multiple bedrooms and bathrooms across the three units, with rooms listed for Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, and Bedroom 3.
As a residential income asset with current occupancy and recent updates throughout the units, the property is positioned for investors looking for immediate in-place cash flow.
Key Highlights
- Tenant‑occupied triplex with three units: one single‑family home and one duplex
- 700 sq. ft. single‑family home plus two 599 sq. ft. duplex units totaling 1,899 sq. ft.
- Currently delivering a 7% cap rate
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
$17,326
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
3.47%
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%
$346,520
$346.5K
Cap Rate 7%
$247,514
$247.5K
Cap Rate 9%
$192,511
$192.5K
Market Conditions
NOI Build-Up for 1,898 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
$26.2K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.8K $13.04/SF
− OpEx
−$7.4K −$3.91/SF
NOI
$17.3K $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%
$346,520
Cap Rate 7%
$247,514
Cap Rate 9%
$192,511
Alternative Uses
Best Use
Multifamily LT 5
$247.5K
$216.6K – $288.8K
NOI $17,326 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$229.0K
$200.4K – $267.2K
NOI $16,032 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$459.2K
$401.8K – $535.7K
NOI $32,141 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied triplex built in 1940 with wood flooring and a fully updated single-family home plus duplex units.
Where is this triplex located?
The property is located at 425 Fitzgerald Road NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Tenant‑occupied triplex with three units: one single‑family home and one duplex; 700 sq. ft. single‑family home plus two 599 sq. ft. duplex units totaling 1,899 sq. ft.; Currently delivering a 7% cap rate
