Courtyard Triplex with Private
For Sale
$331,592
533 Valencia Dr, Albuquerque, NM 87108
Residential-style triplex with shared courtyard, off-street parking, updated infrastructure, and varied laundry amenities.
Property Size1,929 SF
Price / SF$171.90
Days on Market55
Property Features for 533 Valencia Dr
General Information
Standard status
Active
Size
1,929 SF
Property subtype
Residential Income
Building Details
Year Built
1940
Listing Agency:
Maestas Real Estate Services
Listed By:
Anita Maestas · License #16029
(505) 463-3565
Source:
Albuquerquehomefinders
Added: Aug 4
Changed: Sep 26
Last Checked: Sep 26 at 7:39AM
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 Maestas Real Estate Services
Investment Insights
Based on property information with market context.
This 1,929-square-foot triplex, built in 1940, combines three residential units with a courtyard-oriented layout. Shared colonnade space, brick walkways, mature landscaping, private patios, and off-street parking contribute to a distinctly residential setting. Solatube tubular skylights bring natural light into the interiors, while buried tool and storage areas provide dedicated owner storage.
Recent capital work includes a roof replacement in 2022, new driveways and sidewalks in 2024, and interior renovations. Apartment 533 #6 has been fully renovated and includes a dedicated laundry room with a built-in clothing rack; other units have washer or washer/dryer hookups. The property is located at 533 Valencia Dr in Albuquerque, within walking distance of parks, restaurants, and retail. Existing performance is reflected in an 11.16 GRM and 6.11% cap rate.
Recent capital work includes a roof replacement in 2022, new driveways and sidewalks in 2024, and interior renovations. Apartment 533 #6 has been fully renovated and includes a dedicated laundry room with a built-in clothing rack; other units have washer or washer/dryer hookups. The property is located at 533 Valencia Dr in Albuquerque, within walking distance of parks, restaurants, and retail. Existing performance is reflected in an 11.16 GRM and 6.11% cap rate.
Key Highlights
- 1,929‑square‑foot triplex built in 1940
- Shared colonnade courtyard with mature landscaping and brick walkways
- New roof completed in 2022
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
$17,609
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
5.31%
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%
$352,180
$352.2K
Cap Rate 7%
$251,557
$251.6K
Cap Rate 9%
$195,656
$195.7K
Market Conditions
NOI Build-Up for 1,929 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
$26.6K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.2K $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 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%
$352,180
Cap Rate 7%
$251,557
Cap Rate 9%
$195,656
Alternative Uses
Best Use
Multifamily LT 5
$251.6K
$220.1K – $293.5K
NOI $17,609 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$232.8K
$203.7K – $271.6K
NOI $16,294 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$466.7K
$408.3K – $544.4K
NOI $32,666 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Residential-style triplex with shared courtyard, off-street parking, updated infrastructure, and varied laundry amenities.
Where is this triplex located?
The property is located at 533 Valencia Dr Albuquerque, NM.
What is the asking price?
The asking price for this property is $331,592.
What are key features of this property?
This property features: 1,929‑square‑foot triplex built in 1940; Shared colonnade courtyard with mature landscaping and brick walkways; New roof completed in 2022
