6-Unit Apartment
For Sale
$565,000
426 Towner Avenue NW, Albuquerque, NM 87102
ResidentialIncome, Albuquerque, NM
Property Size3,191 SF
Lot Size0.24 Acres
Price / SF$177.06
Days on Market270
Property Features for 426 Towner Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
MX-M*
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking
6
Appliances
FreeStandingGasRange, RangeHood
Subdivision
Towner Add
Directions
From the I-25/I-40 ''Big I,'' head north on I-25 and take the Menaul Blvd exit (Exit 226A). Go west on Menaul about 1.3 miles to 4th St NW, then turn left (south) onto 4th. After one block, turn right (west) onto Towner Ave NW; the property at 426 Towner Ave NW is on that block.
Standard status
Active
APN
101405927228422138
Size
3,191 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
2181
Utilities
Cooling system
Window Unit(s)
Building Details
Year built
1946
Floors in Building
1
Number of units
6
Flooring type
Tile, Vinyl, Carpet
Building materials
Block, Frame
Listing Agency:
Weichert, Realtors Image
(505) 365-6721
Listed By:
Peter A Cochran · License #20811
(505) 314-6181
Added: Dec 2, 2025
Changed: Aug 19
Last Checked: Aug 29 at 5:06PM
MLS# 1095527
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 6-unit apartment property comprises three separate structures, each containing two residences. The 3,191-square-foot property was built in 1946 and includes private entrances, practical layouts, tile, vinyl and carpet flooring, window-unit cooling, gas ranges, and range hoods. Gas and electric service are separately metered for each unit. The property is fully occupied and professionally managed, with six bedrooms and six bathrooms across the residence mix.
Located at 426 Towner Avenue NW in Albuquerque, the property sits within ZIP Code 87102 in Bernalillo County. Reported financial metrics include a 6.06% cap rate, 9.53 GRM, and 13.40% IRR based on the owner's pro forma. The parcel encompasses 0.24 acres.
Located at 426 Towner Avenue NW in Albuquerque, the property sits within ZIP Code 87102 in Bernalillo County. Reported financial metrics include a 6.06% cap rate, 9.53 GRM, and 13.40% IRR based on the owner's pro forma. The parcel encompasses 0.24 acres.
Key Highlights
- Six‑unit configuration across three separate two‑unit structures
- 3,191 square feet on a 0.24‑acre parcel
- Fully occupied and professionally managed
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
$26,953
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
4.77%
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%
$539,060
$539.1K
Cap Rate 7%
$385,043
$385.0K
Cap Rate 9%
$299,478
$299.5K
Market Conditions
NOI Build-Up for 3,191 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
$51.7K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.0K $15.36/SF
− OpEx
−$22.1K −$6.91/SF
NOI
$27.0K $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 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%
$539,060
Cap Rate 7%
$385,043
Cap Rate 9%
$299,478
Alternative Uses
Best Use
Apartment 5plus
$385.0K
$336.9K – $449.2K
NOI $26,953 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$772.0K
$675.5K – $900.6K
NOI $54,038 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six residences across three structures with private entrances, separate utility metering, and established occupancy.
Where is this apartment building located?
The property is located at 426 Towner Avenue NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Six‑unit configuration across three separate two‑unit structures; 3,191 square feet on a 0.24‑acre parcel; Fully occupied and professionally managed
