12-Unit Apartment
New
For Sale
$947,250
7524 2nd Street NW, Albuquerque, NM 87107
ResidentialIncome, Albuquerque, NM
Property Size6,685 SF
Lot Size0.76 Acres
Price / SF$141.70
Days on Market2
Property Features for 7524 2nd Street NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-2
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 4, Bathroom 5, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 2
Appliances
Refrigerator
Subdivision
Tract 150-A1 Map 27
Directions
From I-25 and Osuna - west on Osuna to 2nd Street, north to property
Standard status
Active
APN
101506331520940711
Size
6,685 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Description
Tract 150-A1 Map 27
Tax Annual Amount
3356
Legal Description
Tract 150-A1 Map 27
Building Details
Year built
1946
Floors in Building
1
Number of units
12
Flooring type
Vinyl, Carpet, Tile
Building materials
Frame, Stucco, WoodSiding
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 7:06PM
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.
Investment Insights
Based on property information with market context.
This multifamily property includes 12 apartments distributed among three buildings on a 0.76-acre lot. The unit mix consists of five studios, six one-bedroom apartments, and one two-bedroom apartment, with 6,685 square feet of property size. Units feature a combination of modern updates and classic character details, along with thermal windows, vinyl, carpet, and tile flooring. Construction includes frame, stucco, and wood siding, and the property was built in 1946. Refrigerators are included, and ample parking serves the compound.
The property is located at 7524 2nd Street NW in Albuquerque's north valley, directly across from the new 2nd Street Lenticular Park. The Rio Grande, Bosque Forest, and nature trails are a few blocks away, while Paseo Del Norte, also identified as Highway 423, is 1.5 miles north. A public library is located less than a quarter-mile away, with additional retail, stores, restaurants, and breweries nearby.
The property is located at 7524 2nd Street NW in Albuquerque's north valley, directly across from the new 2nd Street Lenticular Park. The Rio Grande, Bosque Forest, and nature trails are a few blocks away, while Paseo Del Norte, also identified as Highway 423, is 1.5 miles north. A public library is located less than a quarter-mile away, with additional retail, stores, restaurants, and breweries nearby.
Key Highlights
- 12 apartments across three buildings
- Unit mix includes five studios, six 1‑bedrooms, and one 2‑bedroom
- 6,685 square feet on a 0.76‑acre lot
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
$56,466
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
5.96%
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%
$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
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
$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 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%
$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 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,206 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three buildings provide a distinctive multifamily layout with varied apartment configurations, on-site parking, and a gated compound 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 $947,250.
What are key features of this property?
This property features: 12 apartments across three buildings; Unit mix includes five studios, six 1‑bedrooms, and one 2‑bedroom; 6,685 square feet on a 0.76‑acre lot
