Fully Occupied Fourplex with Corner
For Sale
$595,000
483 Vancouver Road SE, Rio Rancho, NM 87124
Four two-bedroom apartments offer private backyards, laundry hookups, and individual storage.
Property Size3,433 SF
Price / SF$173.32
Days on Market52
Property Features for 483 Vancouver Road SE
General Information
Standard status
Active
Size
3,433 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
washer/dryer hookups
individual storage units
Building Details
Year Built
1997
Buildings
1
Listing Agency:
R & R Real Estate Partners LLC
Listed By:
Franz Redl · License #franzr
(505) 280-6365
Source:
Sandisells
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 5:35AM
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 R & R Real Estate Partners LLC
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Investment Insights
Based on property information with market context.
This fully occupied fourplex contains four apartments of approximately 850 square feet each. Every residence includes two bedrooms, one bathroom, a kitchen with dining space, and a large living room, along with a private backyard. Washer and dryer hookups and individual storage units serve each apartment. The building’s total property size is 3,433 square feet.
Set on an almost 0.5-acre corner lot at 483 Vancouver Road SE in Rio Rancho, the property combines four residential units with substantial land area. A metal roof was installed in 2021, providing a recent building improvement. The property was constructed in 1997.
Set on an almost 0.5-acre corner lot at 483 Vancouver Road SE in Rio Rancho, the property combines four residential units with substantial land area. A metal roof was installed in 2021, providing a recent building improvement. The property was constructed in 1997.
Key Highlights
- Four fully occupied apartments, each approximately 850 SF
- Each unit includes 2 bedrooms and 1 bathroom
- Private backyard, washer/dryer hookups, and individual storage for every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,676
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,520
$613.5K
Cap Rate 7%
$438,229
$438.2K
Cap Rate 9%
$340,844
$340.8K
Market Conditions
NOI Build-Up for 3,433 SF
Gross rent
$47.4K $13.80/SF
− Vacancy
−$3.6K −$1.04/SF
EGI
$43.8K $12.77/SF
− OpEx
−$13.1K −$3.83/SF
NOI
$30.7K $8.94/SF
Area
Rio Rancho, NM
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,520
Cap Rate 7%
$438,229
Cap Rate 9%
$340,844
Alternative Uses
Best Use
Multifamily LT 5
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$407.3K
$356.4K – $475.1K
NOI $28,508 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,520 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
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Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments offer private backyards, laundry hookups, and individual storage.
Where is this quadplex located?
The property is located at 483 Vancouver Road SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four fully occupied apartments, each approximately 850 SF; Each unit includes 2 bedrooms and 1 bathroom; Private backyard, washer/dryer hookups, and individual storage for every apartment
