Quadplex with Enclosed
New
For Sale
$420,000
532 Palomas Drive SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size3,136 SF
Lot Size0.16 Acres
Price / SF$133.93
Days on Market6
Property Features for 532 Palomas Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
MX-M*
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bedroom 7, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 8
Security features
Security
Appliances
Refrigerator
Subdivision
Of Baron Burg Heights Add
Directions
Head east on Central Ave SE / Route 66 toward Alvarado Dr SE.T urn right at the first major cross street onto Alvarado Dr SE. Turn left onto Zuni Rd SE. Turn right at the next street onto Palomas Dr SE.
Standard status
Active
APN
101805610848422819
Size
3,136 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3600
Utilities
Heating system
Central
Amenities
off-street parking
private enclosed courtyards
newer windows
newer stucco
Building Details
Year built
1979
Floors in Building
2
Number of units
4
Flooring type
Tile
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Tyler M Pete · License #53270
(505) 264-3082
Added: Sep 1
Changed: Sep 5
Last Checked: Sep 6 at 5:06AM
MLS# 1110497
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 four-unit residential property contains 3,136 square feet and was built in 1979. The unit mix includes three two-bedroom, one-bath residences and one one-bedroom, one-bath residence. Interior features include tile flooring, central heating, and refrigerators. Newer windows and stucco contribute to the building’s updated physical improvements.
The property occupies 0.16 acres in Albuquerque, New Mexico, and provides off-street parking along with private enclosed courtyards for the units. Its four-unit configuration offers a defined residential income asset with a mix of two-bedroom and one-bedroom layouts.
The property occupies 0.16 acres in Albuquerque, New Mexico, and provides off-street parking along with private enclosed courtyards for the units. Its four-unit configuration offers a defined residential income asset with a mix of two-bedroom and one-bedroom layouts.
Key Highlights
- Four‑unit property with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 3,136 square feet on 0.16 acres
- Off‑street parking and private enclosed courtyards
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
$28,628
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
6.82%
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%
$572,560
$572.6K
Cap Rate 7%
$408,971
$409.0K
Cap Rate 9%
$318,089
$318.1K
Market Conditions
NOI Build-Up for 3,136 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
$43.3K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.9K $13.04/SF
− OpEx
−$12.3K −$3.91/SF
NOI
$28.6K $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 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%
$572,560
Cap Rate 7%
$408,971
Cap Rate 9%
$318,089
Alternative Uses
Best Use
Multifamily LT 5
$409.0K
$357.9K – $477.1K
NOI $28,628 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,489 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$758.7K
$663.8K – $885.1K
NOI $53,106 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,508
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with varied unit sizes, off-street parking, and private outdoor areas.
Where is this quadplex located?
The property is located at 532 Palomas Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four‑unit property with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 3,136 square feet on 0.16 acres; Off‑street parking and private enclosed courtyards
