Fourplex with Hardwood
For Sale
$612,369
715 Fruit Ave Nw, Albuquerque, NM 87102
Downtown Albuquerque fourplex with studio and 1BR/1BA units, plus a 2BR/1BA main residence, laundry and camera system.
Property Size2,660 SF
Price / SF$230.21
Days on Market125
Property Features for 715 Fruit Ave Nw
General Information
Standard status
Active
Size
2,660 SF
Property subtype
Residential Income
Amenities
laundry room
high speed internet
camera system
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
NM Apartment Advisors, Inc.
(505) 440-8633
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Exprealty
Added: Apr 7
Changed: Jul 31
Last Checked: Aug 8 at 10:25AM
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 NM Apartment Advisors, Inc.
Investment Insights
Based on property information with market context.
This fourplex at 715 Fruit Ave NW offers a distinctive residential setup behind a classic white picket fence. The unit mix includes one studio unit, two 1BR/1BA units, and one larger main residence with a 2BR/1BA configuration. Each unit features hardwood floors, and the front units have vaulted ceilings.
Residents have access to both alley and on-street parking. The property also includes a separate laundry room, as well as high-speed internet and a camera system.
Located in Downtown Albuquerque within walking distance to breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, and the city’s primary courthouses, this property is positioned for convenient everyday use.
Residents have access to both alley and on-street parking. The property also includes a separate laundry room, as well as high-speed internet and a camera system.
Located in Downtown Albuquerque within walking distance to breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, and the city’s primary courthouses, this property is positioned for convenient everyday use.
Key Highlights
- Unit mix: one studio, two 1BR/1BA units, and one 2BR/1BA main residence
- Hardwood floors throughout; front units have vaulted ceilings
- Separate laundry room on‑site
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
$24,282
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
3.97%
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%
$485,640
$485.6K
Cap Rate 7%
$346,886
$346.9K
Cap Rate 9%
$269,800
$269.8K
Market Conditions
NOI Build-Up for 2,660 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
$36.7K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.7K $13.04/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$24.3K $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 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%
$485,640
Cap Rate 7%
$346,886
Cap Rate 9%
$269,800
Alternative Uses
Best Use
Multifamily LT 5
$346.9K
$303.5K – $404.7K
NOI $24,282 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$321.0K
$280.9K – $374.5K
NOI $22,468 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$643.5K
$563.1K – $750.8K
NOI $45,046 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
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?
Quadplex - Downtown Albuquerque fourplex with studio and 1BR/1BA units, plus a 2BR/1BA main residence, laundry and camera system.
Where is this quadplex located?
The property is located at 715 Fruit Ave Nw Albuquerque, NM.
What is the asking price?
The asking price for this property is $612,369.
What are key features of this property?
This property features: Unit mix: one studio, two 1BR/1BA units, and one 2BR/1BA main residence; Hardwood floors throughout; front units have vaulted ceilings; Separate laundry room on‑site
