Two-Unit Duplex with Detached
620 San Pedro Drive SE, Albuquerque, NM 87108
For Sale
$249,000
Both residences are occupied and include separate rear garages used by tenants.
Property Size1,566 SF
Price / SF$159
Days on Market60
Property Features for 620 San Pedro Drive SE
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Grimes Properties
Listed By:
Daniel Grimes
(505) 239-5389
Source:
Goldenshieldsrealty
Added: Sep 11
Changed: Nov 8
Last Checked: Nov 9 at 11:56AM
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 Grimes Properties
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Investment Insights
Based on property information with market context.
This 1,566-square-foot duplex, built in 1957, contains two one-bedroom and two-bedroom residences, each with one bathroom. Two detached garages are positioned behind the units, and tenants occupy both garages. Hardwood flooring in each residence has been refinished in recent years. The roof on both buildings is a TPO system approximately eight years old, and electrical service was updated in 2021.
The 618 unit has vinyl thermal windows, a rebuilt bathroom, vinyl finishes, and new appliances. The 620 unit retains older thermal windows. Zoning is R-MH*.
The 618 unit has vinyl thermal windows, a rebuilt bathroom, vinyl finishes, and new appliances. The 620 unit retains older thermal windows. Zoning is R-MH*.
Key Highlights
- Two residences: one has 1 bedroom and 1 bathroom; the other has 2 bedrooms and 1 bathroom
- 1,566 square feet; built in 1957
- Two detached rear garages occupied by tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,296
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,920
$285.9K
Cap Rate 7%
$204,229
$204.2K
Cap Rate 9%
$158,844
$158.8K
Market Conditions
NOI Build-Up for 1,566 SF
Gross rent
$21.6K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.4K $13.04/SF
− OpEx
−$6.1K −$3.91/SF
NOI
$14.3K $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%
$285,920
Cap Rate 7%
$204,229
Cap Rate 9%
$158,844
Alternative Uses
Best Use
Multifamily LT 5
$204.2K
$178.7K – $238.3K
NOI $14,296 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$189.0K
$165.4K – $220.5K
NOI $13,228 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$378.8K
$331.5K – $442.0K
NOI $26,519 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,266
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 Duplexes in Albuquerque, NM
Properties on Market for Duplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and include separate rear garages used by tenants.
Where is this duplex located?
The property is located at 620 San Pedro Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two residences: one has 1 bedroom and 1 bathroom; the other has 2 bedrooms and 1 bathroom; 1,566 square feet; built in 1957; Two detached rear garages occupied by tenants
