Two Fourplex Apartment
For Sale
$1,030,000
55-65 Darlene Road SE, Rio Rancho, NM 87124
ResidentialIncome, Rio Rancho, NM
Property Size6,620 SF
Lot Size0.41 Acres
Price / SF$155.59
Days on Market96
Property Features for 55-65 Darlene Road SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Bedrooms
2
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 1, Bathroom 7, Bathroom 4, Bathroom 8, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 2
Exterior features
Lighting
Appliances
Dishwasher, Refrigerator
Subdivision
Casa Del Rio
Directions
From Unser and 2nd St. head West on 2nd St., Left on Eventide, Left on Darlene.
Standard status
Active
APN
1011069214367
Size
6,620 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Annual Amount
4174
Utilities
Heating system
Central, Forced Air
Building Details
Year built
1980
Floors in Building
2
Number of units
8
Flooring type
Carpet
Building materials
Frame, Stucco
Listing Agency:
Absolute Real Estate
(505) 681-8578
Listed By:
Michael Schlichte · License #17987
(505) 318-6264
Added: Jul 8
Changed: Sep 13
Last Checked: Oct 11 at 7:06PM
MLS# 1107083
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.
This multifamily offering combines two separately parceled fourplex buildings with eight 2-bedroom, 1-bath apartments. The buildings total 6620 square feet on 0.41 acres and were constructed in 1980. Unit features include carpeted flooring, dishwashers, refrigerators, and forced-air and central heating. Frame and stucco construction, along with exterior lighting, are also present.
The property is located at 55-65 Darlene Road SE in Rio Rancho, New Mexico 87124, within Sandoval County. All eight apartments are occupied, and the residences are described as well maintained and functional. The two buildings are offered together as one multifamily acquisition.
The property is located at 55-65 Darlene Road SE in Rio Rancho, New Mexico 87124, within Sandoval County. All eight apartments are occupied, and the residences are described as well maintained and functional. The two buildings are offered together as one multifamily acquisition.
Key Highlights
- Eight 2‑bedroom, 1‑bath units across two 4‑plex buildings
- Two separately parceled buildings offered together
- 6620 square feet on 0.41 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,973
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,099,460
$1.1M
Cap Rate 7%
$785,329
$785.3K
Cap Rate 9%
$610,811
$610.8K
Market Conditions
NOI Build-Up for 6,620 SF
Gross rent
$107.2K $16.20/SF
− Vacancy
−$7.3K −$1.10/SF
EGI
$100.0K $15.10/SF
− OpEx
−$45.0K −$6.79/SF
NOI
$55.0K $8.30/SF
Area
Rio Rancho, NM
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,099,460
Cap Rate 7%
$785,329
Cap Rate 9%
$610,811
Alternative Uses
Best Use
Apartment 5plus
$785.3K
$687.2K – $916.2K
NOI $54,973 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,775 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
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Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
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?
Apartment building - Occupied two-bedroom residences feature central and forced-air heating.
Where is this apartment building located?
The property is located at 55-65 Darlene Road SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Eight 2‑bedroom, 1‑bath units across two 4‑plex buildings; Two separately parceled buildings offered together; 6620 square feet on 0.41 acres
