Two-Unit Duplex with Fenced
For Sale
$240,000
601 Espanola Street SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size1,659 SF
Lot Size0.16 Acres
Price / SF$144.67
Days on Market12
Property Features for 601 Espanola Street SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-ML*
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Interior features
CeilingFans
Exterior features
Landscaping
Appliances
BuiltInGasRange
Subdivision
Emil Mann
Directions
From Central And Louisana, South On Louisana To Southern. East Onsouthern To Espanola. North To Property On Corner Of Espanola & Trumbell
Standard status
Active
APN
101905611839120413
Size
1,659 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
7318
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Flooring type
Tile, Laminate
Building materials
Stucco
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Thu Chau · License #53514
(505) 737-9421
Added: Oct 19
Changed: Oct 29
Last Checked: Oct 30 at 4:06AM
MLS# 1113130
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 1,659-square-foot duplex contains two apartments, each configured with two bedrooms and one bathroom. The property occupies 0.16 acres and includes a fully enclosed yard. Built in 1957, the building has stucco exterior walls, tile and laminate flooring, ceiling fans, and a built-in gas range.
Parking varies by unit: the east residence has a dedicated driveway, while the north residence has a garage space, a covered porch parking space, and two driveway spaces. The north unit's entrance is on the north side of the property.
Parking varies by unit: the east residence has a dedicated driveway, while the north residence has a garage space, a covered porch parking space, and two driveway spaces. The north unit's entrance is on the north side of the property.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,659 square feet on a 0.16‑acre lot
- East unit has a separate driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,145
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,900
$302.9K
Cap Rate 7%
$216,357
$216.4K
Cap Rate 9%
$168,278
$168.3K
Market Conditions
NOI Build-Up for 1,659 SF
Gross rent
$22.9K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$21.6K $13.04/SF
− OpEx
−$6.5K −$3.91/SF
NOI
$15.1K $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%
$302,900
Cap Rate 7%
$216,357
Cap Rate 9%
$168,278
Alternative Uses
Best Use
Multifamily LT 5
$216.4K
$189.3K – $252.4K
NOI $15,145 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$200.2K
$175.2K – $233.6K
NOI $14,013 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$401.3K
$351.2K – $468.2K
NOI $28,094 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
685
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - The two residences have separate entrances and distinct parking arrangements.
Where is this duplex located?
The property is located at 601 Espanola Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,659 square feet on a 0.16‑acre lot; East unit has a separate driveway
