Triplex with Shared
537 Valencia Drive SE, Albuquerque, NM 87108
For Sale
$331,592
Residential Income, Albuquerque, NM
Property Size1,929 SF
Lot Size0.15 Acres
Price / SF$171.90
Days on Market124
Property Features for 537 Valencia Drive SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
private street-facing patios
shared colonnade courtyard
Solatube tubular skylights
dedicated buried tool storage
brick sidewalks
Building Details
Year built
Number of units
Buildings
Listing Agency:
Maestas Real Estate Services
Listed By:
Anita Maestas · License NM #16029
(505) 463-3565
Added: Jul 9
Changed: Nov 9
Last Checked: Nov 9 at 11:06PM
MLS# 1113596
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 1,929-square-foot triplex, built in 1940, contains three occupied apartments on a 0.15-acre parcel zoned R-MH*. Shared outdoor areas include a colonnaded courtyard and private patios. Solatube tubular skylights bring natural light into the buildings, and each building has dedicated buried tool storage. Apartment 3 has been renovated and includes a laundry room with built-in cabinetry; Apartment 1 has a washer hookup in the kitchen, while Apartments 2 and 3 have full washer and dryer hookups.
A new roof was installed in 2022, followed by new driveways and sidewalks in 2024. The property offers off-street parking and is within walking distance of parks, retail businesses, and restaurants in Albuquerque.
A new roof was installed in 2022, followed by new driveways and sidewalks in 2024. The property offers off-street parking and is within walking distance of parks, retail businesses, and restaurants in Albuquerque.
Key Highlights
- Three occupied apartments in a 1,929‑square‑foot triplex
- 0.15‑acre parcel zoned R‑MH*
- New roof installed in 2022; driveways and sidewalks replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,609
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
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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
$227,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Albuquerque, NM
Properties on Market for Triplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied; the renovated third unit has a dedicated laundry room.
Where is this triplex located?
The property is located at 537 Valencia Drive 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: Three occupied apartments in a 1,929‑square‑foot triplex; 0.15‑acre parcel zoned R‑MH*; New roof installed in 2022; driveways and sidewalks replaced in 2024
