Four-Unit Quadplex with
New
For Sale
$420,000
536 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 536 Palomas Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
MX-M*
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
Security features
Security
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Of Baron Burg Heights Add
Directions
Head east on Central Ave SE toward Alvarado Dr SE. Turn right at the first major cross street onto Alvarado Dr SE.T urn left onto Zuni Rd SE.Turn right at the next street onto Palomas Dr SE. Continue south down the block.
Standard status
Active
APN
101805610847922820
Size
3,136 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3600
Utilities
Heating system
Forced Air
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 12:06AM
MLS# 1110498
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.
Located at 536 Palomas Drive SE in Albuquerque, this 3,136-square-foot quadplex contains four two-bedroom, one-bath units. The 1979 property sits on a 0.16-acre lot and includes private enclosed courtyards and off-street parking. Unit interiors feature tile flooring, forced-air heating, freestanding electric ranges, and refrigerators.
Recent property improvements include newer windows and newer stucco. The four-unit configuration offers a consistent layout across the building, with four bedrooms and two bathrooms represented in the recorded room information. The property is in Albuquerque, Bernalillo County, New Mexico, within ZIP code 87108.
Recent property improvements include newer windows and newer stucco. The four-unit configuration offers a consistent layout across the building, with four bedrooms and two bathrooms represented in the recorded room information. The property is in Albuquerque, Bernalillo County, New Mexico, within ZIP code 87108.
Key Highlights
- Four 2 bed/1 bath units in a quadplex configuration
- 3,136 square feet on a 0.16‑acre lot
- Private enclosed courtyards for the units
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
1,255
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom, one-bath residences include off-street parking and newer exterior features.
Where is this quadplex located?
The property is located at 536 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 2 bed/1 bath units in a quadplex configuration; 3,136 square feet on a 0.16‑acre lot; Private enclosed courtyards for the units
