Four-Unit Courtyard
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 Market53
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
Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 8, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 7
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
private enclosed courtyards
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: Oct 17
Last Checked: Oct 23 at 12:06AM
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.
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Investment Insights
Based on property information with market context.
This 3,136-square-foot quadplex contains four two-bedroom, one-bath residences. The property includes off-street parking, private enclosed courtyards, newer windows, and newer stucco. Interior features include tile flooring, central heating, and refrigerators in the units. Built in 1979, the building sits on a 0.16-acre parcel in Albuquerque.
The unit configuration provides a consistent four-residence layout, with each apartment offering two bedrooms and one bathroom. The combination of private outdoor areas, parking, and updated exterior components adds practical functionality across the property.
The unit configuration provides a consistent four-residence layout, with each apartment offering two bedrooms and one bathroom. The combination of private outdoor areas, parking, and updated exterior components adds practical functionality across the property.
Key Highlights
- Four two‑bedroom, one‑bath units
- 3,136 square feet on a 0.16‑acre parcel
- Private enclosed courtyards for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,628
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained multifamily property with enclosed courtyards, off-street parking, and updated exterior features.
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 two‑bedroom, one‑bath units; 3,136 square feet on a 0.16‑acre parcel; Private enclosed courtyards for the units
