7-Unit Apartment
For Sale
$764,977
4600 Zuni Road SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size4,200 SF
Lot Size0.32 Acres
Price / SF$182.14
Days on Market33
Property Features for 4600 Zuni Road SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-MH*
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Interior features
CeilingFans
Exterior features
Landscaping
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Parkland Hills Add
Directions
From Washington and Lead Ave: South on Washington to Zuni Rd. East on Zuni Rd to property on South Side of street.
Standard status
Active
APN
101705630552212414
Size
4,200 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
12987
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1958
Floors in Building
1
Number of units
7
Flooring type
Tile, Vinyl, Carpet
Building materials
Frame, Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 803-3775
Added: Aug 16
Changed: Sep 16
Last Checked: Sep 17 at 12:06AM
MLS# 1111038
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 7-unit apartment property comprises two triplex buildings and a detached casita on a 0.32-acre site. The 4,200-square-foot complex was built in 1958 and includes four 1-bedroom apartments, two 2-bedroom apartments, and a separate 1-bedroom casita. Select interiors feature hardwood floors, built-ins, open kitchens, and spacious living areas, while the two-bedroom units include private backyards and in-unit washers and dryers.
Each apartment is separately metered for gas and electric. Exterior features include landscaped grounds, patio or front-porch entries, private yards, and off-street parking. The property is located at 4600 Zuni Road SE in Albuquerque's Ridgecrest area, near Nob Hill, Highland Pool, and parks.
Each apartment is separately metered for gas and electric. Exterior features include landscaped grounds, patio or front-porch entries, private yards, and off-street parking. The property is located at 4600 Zuni Road SE in Albuquerque's Ridgecrest area, near Nob Hill, Highland Pool, and parks.
Key Highlights
- 7‑unit apartment complex with two triplexes and a separate 1‑bedroom casita
- Unit mix includes four 1‑bedroom apartments and two 2‑bedroom apartments
- 4,200 square feet on a 0.32‑acre site
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
$35,476
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
4.64%
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%
$709,520
$709.5K
Cap Rate 7%
$506,800
$506.8K
Cap Rate 9%
$394,178
$394.2K
Market Conditions
NOI Build-Up for 4,200 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
$68.0K $16.20/SF
− Vacancy
−$3.5K −$0.84/SF
EGI
$64.5K $15.36/SF
− OpEx
−$29.0K −$6.91/SF
NOI
$35.5K $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%
$709,520
Cap Rate 7%
$506,800
Cap Rate 9%
$394,178
Alternative Uses
Best Use
Apartment 5plus
$506.8K
$443.5K – $591.3K
NOI $35,476 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two triplexes and a separate casita provide a varied apartment layout with private outdoor areas and off-street parking.
Where is this apartment building located?
The property is located at 4600 Zuni Road SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $764,977.
What are key features of this property?
This property features: 7‑unit apartment complex with two triplexes and a separate 1‑bedroom casita; Unit mix includes four 1‑bedroom apartments and two 2‑bedroom apartments; 4,200 square feet on a 0.32‑acre site
