Triplex with Newer
514 Alvarado Dr SE, Albuquerque, NM 87108
For Sale
New
$265,000
One of the three units is vacant and available to view.
Property Size1,975 SF
Price / SF$134.18
Days on Market4
Property Features for 514 Alvarado Dr SE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:38AM
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 Keller Williams Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,975-square-foot triplex was built in 1952 and includes three rental units. One unit is vacant and available for showings, while the property has an established rental history. The roof is 7 years old.
The property may be acquired alongside the neighboring triplex at 508 Alvarado Drive SE, which would bring the combined total to six rental units. Separate offers may also be considered.
The property may be acquired alongside the neighboring triplex at 508 Alvarado Drive SE, which would bring the combined total to six rental units. Separate offers may also be considered.
Key Highlights
- Three‑unit residential income property
- 1,975 square feet; built in 1952
- Roof is 7 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,029
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,580
$360.6K
Cap Rate 7%
$257,557
$257.6K
Cap Rate 9%
$200,322
$200.3K
Market Conditions
NOI Build-Up for 1,975 SF
Gross rent
$27.3K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.8K $13.04/SF
− OpEx
−$7.7K −$3.91/SF
NOI
$18.0K $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%
$360,580
Cap Rate 7%
$257,557
Cap Rate 9%
$200,322
Alternative Uses
Best Use
Multifamily LT 5
$257.6K
$225.4K – $300.5K
NOI $18,029 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$238.3K
$208.5K – $278.0K
NOI $16,682 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$477.8K
$418.1K – $557.4K
NOI $33,445 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,376
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
$227,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - One of the three units is vacant and available to view.
Where is this triplex located?
The property is located at 514 Alvarado Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Three‑unit residential income property; 1,975 square feet; built in 1952; Roof is 7 years old
