Triplex with
For Sale
Contact for pricing
537 Valencia SE, Albuquerque, NM 87108
R-MH-zoned income property with private patios, off-street parking, secure storage, and recent exterior improvements.
Property Size1,929 SF
Price / SF$171.90
Days on Market12
Property Features for 537 Valencia SE
General Information
Standard status
Active
Size
1,929 SF
Property subtype
Multifamily
Zoning
R-MH
Occupancy
100%
Net Operating Income
$19,600
Financials
Asking Price
$331,592
Cap Rate
6.11%
Gross Rent Multiplier
11.16
Average Monthly Rent
$825
Additional Details
Multifamily Units
3
Amenities
off-street parking
private patio
shared colonnade courtyard
Solatube tubular skylights
buried tool storage
Building Details
Year Built
1940
Buildings
1
Units
3
Tenancy
Multi
Construction
courtyard style
Listing Agency:
N.M. Apartments, Inc.
(505) 463-3565
Listed By:
Todd Clarke · License #13711
Source:
Crexi
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 4:58PM
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
This R-MH-zoned triplex at 537 Valencia SE contains 1,929 square feet and was built in 1940. The property provides off-street parking, private patios, a shared colonnade courtyard, brick sidewalks, landscaped grounds, and separate buried storage areas for the buildings. Solatube tubular skylights add natural illumination, while Apartment 537 #3 has been renovated with a dedicated laundry room and built-in cabinetry.
A new roof was completed in 2022, followed by driveway and sidewalk improvements in 2024. The property is within walking distance of multiple parks, retail establishments, and restaurants. Current average rents are $825, with reported investment metrics of an 11.16 GRM, 6.11% cap rate, and 11.7% after-tax IRR.
A new roof was completed in 2022, followed by driveway and sidewalk improvements in 2024. The property is within walking distance of multiple parks, retail establishments, and restaurants. Current average rents are $825, with reported investment metrics of an 11.16 GRM, 6.11% cap rate, and 11.7% after-tax IRR.
Key Highlights
- 1,929‑square‑foot triplex built in 1940
- R‑MH zoning with off‑street parking and private patios
- Shared colonnade courtyard, landscaped grounds, and brick sidewalks
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
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,175
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?
Triplex - R-MH-zoned income property with private patios, off-street parking, secure storage, and recent exterior improvements.
Where is this triplex located?
The property is located at 537 Valencia SE 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; R‑MH zoning with off‑street parking and private patios; Shared colonnade courtyard, landscaped grounds, and brick sidewalks
