Renovated Fourplex with Furnished
For Sale
$760,000
622 Jefferson St, Albuquerque, NM 87110
Four-unit income property with a courtyard and flexible short-, mid-, or long-term leasing options.
Property Size3,116 SF
Price / SF$243.90
Days on Market79
Property Features for 622 Jefferson St
General Information
Standard status
Active
Size
3,116 SF
Property subtype
Residential Income
Additional Details
Furnished
Yes
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1951
Listing Agency:
Keller Williams Realty
Listed By:
Steven A Grant · License #52493
(505) 238-0308
Source:
Myabqhomesearch
Added: Jul 29
Changed: Oct 1
Last Checked: Oct 14 at 11:20PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This renovated fourplex contains a primary three-bedroom, two-bath residence with more than 1,200 square feet, plus three additional updated units. A courtyard, mature tree, and cedar fencing provide shared outdoor character, while two units are furnished and have operated as short-term rentals. The property is presented as fully renovated and ready for occupancy or leasing.
The Albuquerque location places the property near University of New Mexico Hospital, with access to Nob Hill restaurants and shops, Uptown retail and offices, and I-40. Hospitals, the university, and national laboratories are also within the surrounding area. The four-unit configuration supports several documented operating approaches, including short-term, mid-term, and traditional long-term leasing.
The Albuquerque location places the property near University of New Mexico Hospital, with access to Nob Hill restaurants and shops, Uptown retail and offices, and I-40. Hospitals, the university, and national laboratories are also within the surrounding area. The four-unit configuration supports several documented operating approaches, including short-term, mid-term, and traditional long-term leasing.
Key Highlights
- Fourplex with 3,116 square feet of property size
- Primary residence includes 3 bedrooms, 2 baths, and more than 1, 200 square feet
- Three additional units are included on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,445
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,900
$568.9K
Cap Rate 7%
$406,357
$406.4K
Cap Rate 9%
$316,056
$316.1K
Market Conditions
NOI Build-Up for 3,116 SF
Gross rent
$43.0K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.6K $13.04/SF
− OpEx
−$12.2K −$3.91/SF
NOI
$28.4K $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%
$568,900
Cap Rate 7%
$406,357
Cap Rate 9%
$316,056
Alternative Uses
Best Use
Multifamily LT 5
$406.4K
$355.6K – $474.1K
NOI $28,445 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$376.0K
$329.0K – $438.7K
NOI $26,320 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$753.8K
$659.6K – $879.5K
NOI $52,768 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit income property with a courtyard and flexible short-, mid-, or long-term leasing options.
Where is this quadplex located?
The property is located at 622 Jefferson St Albuquerque, NM.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Fourplex with 3,116 square feet of property size; Primary residence includes 3 bedrooms, 2 baths, and more than 1, 200 square feet; Three additional units are included on the property
