715 Fruit NW Albuquerque, NM 87102
Fourplex with a studio, two 1BR/1BA units, and a 2BR/1BA main residence plus separate laundry and resident parking.
Property Features for 715 Fruit NW
General Information
- Standard status
- Active
- Size
- 2,565 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1916
Listing office N.M. Apartments, Inc. (505) 440-8633
Listing date Jun 9, 2026
Source Crexi
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
The property is tucked behind classic white picket fencing and is described as being well located with walking distance to the downtown core and biking distance to Old Town Plaza.
For tenants or buyers seeking a small multifamily with a varied unit mix, the configuration supports multiple lifestyle needs, from studio living through a larger 2BR/1BA main residence. The combination of in-building laundry and unit finishes such as hardwood floors and vaulted ceilings can be helpful for day-to-day usability and resident appeal. The alley and on-street parking setup provides straightforward options for resident vehicles.
Key Highlights
- Downtown Albuquerque fourplex built in 1916 with 4 units: 1 studio, two 1BR/1BA, and one 2BR/1BA main residence
- Average rent listed as $981 with a GRM of 11.80 and cap rate of 5.40% at the ask price of $555,555
- Investment metrics at the ask price include $208.86 price per SF and $138,889 price per unit, with after‑tax IRR of 10.51%
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.4k | $13.80 |
| − Vacancy | −$1.9k | −$0.76 |
| EGI | $33.5k | $13.04 |
| − OpEx | −$10.0k | −$3.91 |
| NOI | $23.4k | $9.13 |
