5-Unit Apartment
545 Cardenas Drive SE, Albuquerque, NM 87108
For Sale
$476,500
Residential Income, Albuquerque, NM
Property Size3,000 SF
Lot Size0.17 Acres
Price / SF$158.83
Days on Market66
Property Features for 545 Cardenas Drive SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Konrad L Werner · License NM #14716
(505) 480-4545
Added: Sep 10
Changed: Nov 12
Last Checked: Nov 14 at 1:06AM
MLS# 1110956
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 residential income property comprises 5 rental units across multiple buildings on a single lot. The buildings total 3,000 square feet, and the parcel measures 0.17 acres. The complex is vacant and offered in as-is condition; some units require work. The property was built in 1950 and is zoned R-MH*.
Key Highlights
- 5 rental units across multiple buildings on one lot
- 3,000 square feet of building area on a 0.17‑acre parcel
- Vacant and offered in as‑is condition; some units need work
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,340
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,800
$506.8K
Cap Rate 7%
$362,000
$362.0K
Cap Rate 9%
$281,556
$281.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$48.6K $16.20/SF
− Vacancy
−$2.5K −$0.84/SF
EGI
$46.1K $15.36/SF
− OpEx
−$20.7K −$6.91/SF
NOI
$25.3K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,800
Cap Rate 7%
$362,000
Cap Rate 9%
$281,556
Alternative Uses
Best Use
Apartment 5plus
$362.0K
$316.8K – $422.3K
NOI $25,340 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
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 Apartment buildings in Albuquerque, NM
Properties on Market for Apartment buildings in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A vacant, multi-building residential property is offered in as-is condition on one parcel.
Where is this apartment building located?
The property is located at 545 Cardenas Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $476,500.
What are key features of this property?
This property features: 5 rental units across multiple buildings on one lot; 3,000 square feet of building area on a 0.17‑acre parcel; Vacant and offered in as‑is condition; some units need work
