Two-Unit Duplex with Tile
For Sale
$265,999
425 Grove Street SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size1,386 SF
Lot Size0.16 Acres
Price / SF$191.92
Days on Market79
Property Features for 425 Grove Street SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-ML*
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Emil Mann Addition
Directions
From I40 going East take the Louisiana exit going south. Turn East on Zuni, then South on Grove St. Property is on the right side of the street
Standard status
Active
APN
101905618342621507
Size
1,386 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2156
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Frame, Stucco
Listing Agency:
Keller Williams Realty
Listed By:
Medina Real Estate Inc
(505) 375-2062
Added: Aug 9
Changed: Oct 24
Last Checked: Oct 26 at 6:06AM
MLS# 1109078
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.
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Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 1,386-square-foot property on 0.16 acres. Each unit includes two bedrooms and one bathroom, with tile flooring used throughout the residences. The improvements were built in 1960 with frame construction and stucco exterior materials.
The property includes a freestanding electric range and refrigerator. Located in Albuquerque, the asset is identified as a duplex and provides a two-unit residential configuration suitable for continued rental use or owner occupancy with an additional unit.
The property includes a freestanding electric range and refrigerator. Located in Albuquerque, the asset is identified as a duplex and provides a two-unit residential configuration suitable for continued rental use or owner occupancy with an additional unit.
Key Highlights
- Two‑unit duplex with 1,386 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Tile flooring throughout both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,652
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,040
$253.0K
Cap Rate 7%
$180,743
$180.7K
Cap Rate 9%
$140,578
$140.6K
Market Conditions
NOI Build-Up for 1,386 SF
Gross rent
$19.1K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$18.1K $13.04/SF
− OpEx
−$5.4K −$3.91/SF
NOI
$12.7K $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%
$253,040
Cap Rate 7%
$180,743
Cap Rate 9%
$140,578
Alternative Uses
Best Use
Multifamily LT 5
$180.7K
$158.2K – $210.9K
NOI $12,652 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$167.2K
$146.3K – $195.1K
NOI $11,707 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$335.3K
$293.4K – $391.2K
NOI $23,471 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
792
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, one bathroom, and tile flooring throughout.
Where is this duplex located?
The property is located at 425 Grove Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $265,999.
What are key features of this property?
This property features: Two‑unit duplex with 1,386 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Tile flooring throughout both units
