Triplex with Private
511 Texas Street NE, Albuquerque, NM 87107
For Sale
$299,000
Pending
Residential Income, Albuquerque, NM
Property Size1,925 SF
Lot Size0.15 Acres
Days on Market1399
Property Features for 511 Texas Street NE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Parking
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Number of units
Listing Agency:
Realty Specialists Group
Listed By:
Gregory A Kopacka · License NM #17805
(505) 363-1390
Added: Jan 16, 2023
Changed: Nov 12
Last Checked: Nov 14 at 12:06AM
MLS# 1111017
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 1,925-square-foot triplex contains three units on a 0.15-acre parcel. The building dates to 1961 and has a TPO roof approximately 9 years old, along with replacement windows. Interior features include updated kitchens and bathrooms and ceramic tile floors. Each residence has its own rear patio, and additional parking space is situated along the west side of the property.
Tenants pay their own utilities; water and trash are paid by the owner. The property is in an Opportunity Zone and a Qualified Census Tract. Zoning is R-1A*.
Tenants pay their own utilities; water and trash are paid by the owner. The property is in an Opportunity Zone and a Qualified Census Tract. Zoning is R-1A*.
Key Highlights
- Three‑unit residential property with 1,925 square feet of building area
- 0.15‑acre parcel with parking space along the west side
- TPO roof approximately 9 years old and new windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,573
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,460
$351.5K
Cap Rate 7%
$251,043
$251.0K
Cap Rate 9%
$195,256
$195.3K
Market Conditions
NOI Build-Up for 1,925 SF
Gross rent
$26.6K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.1K $13.04/SF
− OpEx
−$7.5K −$3.91/SF
NOI
$17.6K $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%
$351,460
Cap Rate 7%
$251,043
Cap Rate 9%
$195,256
Alternative Uses
Best Use
Multifamily LT 5
$251.0K
$219.7K – $292.9K
NOI $17,573 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$232.3K
$203.3K – $271.0K
NOI $16,260 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$465.7K
$407.5K – $543.3K
NOI $32,599 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
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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
$282,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Albuquerque, NM
Properties on Market for Triplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences feature refreshed kitchens and bathrooms, ceramic tile flooring, and individual outdoor areas.
Where is this triplex located?
The property is located at 511 Texas Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑unit residential property with 1,925 square feet of building area; 0.15‑acre parcel with parking space along the west side; TPO roof approximately 9 years old and new windows
