Three-Building Apartment
For Sale
$899,900
807 8th St Nw, Albuquerque, NM 87102
Includes loft-style studios, detached casita-style properties, and separate gas and electric metering.
Property Size3,201 SF
Price / SF$281.13
Days on Market229
Property Features for 807 8th St Nw
General Information
Standard status
Active
Size
3,201 SF
Total Parking Spaces
13
Property subtype
Residential Income
Units
Unit Mix
1 x larger unit, 2 x loft studio, 2 x casita
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,214
Building Details
Buildings
3
Construction
casita style
Listing Agency:
Re/Max Select
(780) 457-3777
Listed By:
Alice Richards Meyerhoff · License #14006
(505) 263-7813
Source:
Exprealty
Added: Feb 20
Changed: Oct 2
Last Checked: Oct 5 at 9:40PM
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 Re/Max Select
Investment Insights
Based on property information with market context.
This 3,201-square-foot apartment property includes three buildings with a varied configuration. The improvements include one larger unit, two upstairs loft-area studios, and two detached casita-style properties. Gas and electric service are separately metered.
The property includes 13 parking spaces and is positioned at 8th St and Lomas in Albuquerque. The detached properties carry 702 and 702 1/2 Kelleher NW addresses, providing a multi-building layout across the site.
The property includes 13 parking spaces and is positioned at 8th St and Lomas in Albuquerque. The detached properties carry 702 and 702 1/2 Kelleher NW addresses, providing a multi-building layout across the site.
Key Highlights
- 3,201 SF across 3 total buildings
- 13 parking spaces
- One larger unit and 2 upstairs loft‑area studios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,038
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,760
$540.8K
Cap Rate 7%
$386,257
$386.3K
Cap Rate 9%
$300,422
$300.4K
Market Conditions
NOI Build-Up for 3,201 SF
Gross rent
$51.9K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.2K $15.36/SF
− OpEx
−$22.1K −$6.91/SF
NOI
$27.0K $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%
$540,760
Cap Rate 7%
$386,257
Cap Rate 9%
$300,422
Alternative Uses
Best Use
Apartment 5plus
$386.3K
$338.0K – $450.6K
NOI $27,038 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.4K
$677.6K – $903.5K
NOI $54,207 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,402
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Includes loft-style studios, detached casita-style properties, and separate gas and electric metering.
Where is this apartment building located?
The property is located at 807 8th St Nw Albuquerque, NM.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3,201 SF across 3 total buildings; 13 parking spaces; One larger unit and 2 upstairs loft‑area studios
