Updated 9-Unit Apartment
For Sale
$579,000
6720 Cochiti Rd SE, Albuquerque, NM 87108
Gated apartment property with remodeled casita-style residences, shared laundry, secured parking, and MX-H zoning.
Property Size4,300 SF
Price / SF$134.65
Days on Market61
Property Features for 6720 Cochiti Rd SE
General Information
Standard status
Active
Size
4,300 SF
Total Parking Spaces
12
Property subtype
Multifamily
Zoning
MX-H
Financials
Asking Price
$579,000
Cap Rate
10%
Additional Details
Public Transit
Yes
Multifamily Units
9
Amenities
secured common patio space
common laundry room
secured off-street parking
12 Parking Spaces
Building Details
Year Built
1950
Listing Agency:
Deacon Property Services
(505) 803-3775
Listed By:
Kyle Deacon · License #13711
(505) 803-3775
Source:
Carnm.resimplifi
Added: Jun 30
Changed: Aug 28
Last Checked: Aug 29 at 5:49AM
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 Deacon Property Services
Investment Insights
Based on property information with market context.
This 9-unit apartment compound includes casita-style one-bedroom residences arranged around secured common areas. Property improvements include thermal windows, luxury vinyl plank flooring, custom tile work, contemporary fixtures, exterior paint, TPO roofs, and updated security fencing. Residents also have access to a shared laundry room, walkways, common patio space, and gated off-street parking. The property contains approximately 4,300 square feet and was built in 1950.
The site is located at 6720 Cochiti Rd SE in Albuquerque, one block from Route 66 and near the Expo NM and State Fair grounds. Other referenced nearby destinations include Kirtland Air Force Base, Sandia National Laboratories, Ta-Lin International marketplace, and the retail concentration in Albuquerque’s Uptown Area. The property is zoned MX-H.
The site is located at 6720 Cochiti Rd SE in Albuquerque, one block from Route 66 and near the Expo NM and State Fair grounds. Other referenced nearby destinations include Kirtland Air Force Base, Sandia National Laboratories, Ta-Lin International marketplace, and the retail concentration in Albuquerque’s Uptown Area. The property is zoned MX-H.
Key Highlights
- 9‑unit apartment compound with casita‑style 1‑bedroom residences
- Approximately 4,300 square feet; built in 1950
- Remodeled apartments with thermal windows, luxury vinyl plank flooring, custom tile work, and contemporary fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,321
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$726,420
$726.4K
Cap Rate 7%
$518,871
$518.9K
Cap Rate 9%
$403,567
$403.6K
Market Conditions
NOI Build-Up for 4,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.7K $16.20/SF
− Vacancy
−$3.6K −$0.84/SF
EGI
$66.0K $15.36/SF
− OpEx
−$29.7K −$6.91/SF
NOI
$36.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$726,420
Cap Rate 7%
$518,871
Cap Rate 9%
$403,567
Alternative Uses
Best Use
Apartment 5plus
$518.9K
$454.0K – $605.4K
NOI $36,321 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,818 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Gated apartment property with remodeled casita-style residences, shared laundry, secured parking, and MX-H zoning.
Where is this apartment building located?
The property is located at 6720 Cochiti Rd SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 9‑unit apartment compound with casita‑style 1‑bedroom residences; Approximately 4,300 square feet; built in 1950; Remodeled apartments with thermal windows, luxury vinyl plank flooring, custom tile work, and contemporary fixtures
