Updated Nine-Unit Apartment
For Sale
$740,831
6720 Cochiti Road SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size4,300 SF
Lot Size0.31 Acres
Price / SF$172.29
Days on Market55
Property Features for 6720 Cochiti Road SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
MX-H*
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3
Appliances
Refrigerator
Subdivision
Fairgrounds Addition
Directions
From I-40 and Louisiana south to Cochiti, west to property.
Standard status
Active
APN
101805742508041114
Size
4,300 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
Lots 5 & 6, Fair Grounds Addition
Tax Annual Amount
6952
Legal Description
Lots 5 & 6, Fair Grounds Addition
Amenities
metal fencing
secured gate entries
meandering walkways
secured common patio
common laundry room
secured off-street parking
Building Details
Year built
1950
Floors in Building
1
Number of units
9
Flooring type
Tile
Building materials
Block, Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 22 at 6:06PM
MLS# 1106356
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 9-unit apartment compound includes casita-style one-bedroom residences arranged around secured common areas. The property offers gated drive-through and pedestrian access, protected off-street parking, shared laundry facilities, and a common patio. Apartment interiors have been updated with thermal windows, luxury vinyl plank flooring, custom tile work, contemporary fixtures, and a mix of block, frame, and stucco construction. Tile flooring and refrigerators are also present.
The property occupies 0.31 acres at 6720 Cochiti Road SE in Albuquerque, one block from historic Route 66. Nearby destinations identified in the property information include Expo NM and the State Fairgrounds, Kirtland Air Force Base, Sandia National Laboratories, Ta-Lin International Marketplace, and Uptown Albuquerque retail. The offering is described as an 8%+ cap rate multifamily investment.
The property occupies 0.31 acres at 6720 Cochiti Road SE in Albuquerque, one block from historic Route 66. Nearby destinations identified in the property information include Expo NM and the State Fairgrounds, Kirtland Air Force Base, Sandia National Laboratories, Ta-Lin International Marketplace, and Uptown Albuquerque retail. The offering is described as an 8%+ cap rate multifamily investment.
Key Highlights
- 9‑unit apartment compound with casita‑style one‑bedroom residences
- 4,300 square feet on 0.31 acres at 6720 Cochiti Road SE
- Updated interiors with thermal windows, luxury vinyl plank flooring, custom tile, 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
4.90%
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 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,818 @ 7.0% cap · market cap 9.83%
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 - Casita-style apartments feature renovated interiors, gated access, common laundry, patio space, and secured off-street parking.
Where is this apartment building located?
The property is located at 6720 Cochiti Road SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $740,831.
What are key features of this property?
This property features: 9‑unit apartment compound with casita‑style one‑bedroom residences; 4,300 square feet on 0.31 acres at 6720 Cochiti Road SE; Updated interiors with thermal windows, luxury vinyl plank flooring, custom tile, and contemporary fixtures
