12-Unit Apartment
7524 2nd Street NW, Albuquerque, NM 87107
For Sale
$705,675
Residential Income, Albuquerque, NM
Property Size6,685 SF
Lot Size0.76 Acres
Price / SF$105.56
Days on Market54
Property Features for 7524 2nd Street NW
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License NM #13711
(505) 440-8633
Added: Sep 21
Changed: Nov 12
Last Checked: Nov 13 at 4:06AM
MLS# 1111323
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.
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Investment Insights
Based on property information with market context.
This 12-unit apartment property comprises three buildings on a 0.76-acre parcel. The 6,685-square-foot community was built in 1946 and includes five studios, six one-bedroom apartments, and one two-bedroom apartment. Recent modernization and property improvements are in place, with some residences also featuring updated finishes. The property is zoned R-2.
The Albuquerque north-valley setting is near the Rio Grande Bosque and its nature trails, with a public library less than a quarter-mile away. I-25 is nearby, and Paseo Del Norte is 1.5 miles to the north. A park is located across 2nd Street from the property.
The site has ample parking and a gated compound layout. Reported investment metrics include a 6.03 GRM and a 10.00% cap rate after reserves.
The Albuquerque north-valley setting is near the Rio Grande Bosque and its nature trails, with a public library less than a quarter-mile away. I-25 is nearby, and Paseo Del Norte is 1.5 miles to the north. A park is located across 2nd Street from the property.
The site has ample parking and a gated compound layout. Reported investment metrics include a 6.03 GRM and a 10.00% cap rate after reserves.
Key Highlights
- 12 apartments across three buildings
- Unit mix: five studios, six one‑bedroom apartments, and one two‑bedroom apartment
- 0.76‑acre parcel with 6,685 square feet of property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,466
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,129,320
$1.1M
Cap Rate 7%
$806,657
$806.7K
Cap Rate 9%
$627,400
$627.4K
Market Conditions
NOI Build-Up for 6,685 SF
Gross rent
$108.3K $16.20/SF
− Vacancy
−$5.6K −$0.84/SF
EGI
$102.7K $15.36/SF
− OpEx
−$46.2K −$6.91/SF
NOI
$56.5K $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 Rate 5%
$1,129,320
Cap Rate 7%
$806,657
Cap Rate 9%
$627,400
Alternative Uses
Best Use
Apartment 5plus
$806.7K
$705.8K – $941.1K
NOI $56,466 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,206 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Albuquerque, NM
Properties on Market for Apartment buildings in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three residential buildings offer a varied apartment mix within a gated north-valley setting.
Where is this apartment building located?
The property is located at 7524 2nd Street NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $705,675.
What are key features of this property?
This property features: 12 apartments across three buildings; Unit mix: five studios, six one‑bedroom apartments, and one two‑bedroom apartment; 0.76‑acre parcel with 6,685 square feet of property area
